Devon Energy Corporation is on a descending triangle, so we expect a retracement of the price. Moreover the price is hitting both the support and the band of the triangle, making the price more likely to raise, Also the RSI index shows that the stocks are oversold, further strengthen this theory. You can go long on this stock as soon as its price breaks the upper band of the triangle. You can then sell in the resistance as shown in the chart.
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breakout
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