Energy stocks currently rank among the best performers in the S&P 500 and Devon Energy is one of them. The stock closed the week at 51.8050 and is trading above the rising 200 day moving average at 47.30.
It has made a golden cross formation last week and the next important resistance lies at 62.14 which is the Fibonacci 50% retracement based on the entire range from April 2008. Further out, the next upside target comes in at 75.25 which is the Fibonacci 61.8% retracement level from the low of 6.62 based on the same range.
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