Real-time top-down analysis using CUE systems.

1) Today, Energy is the best performing sector, as seen from real-time sector-industry analysis tool CUE Edge.

2) In that sector, Oil & Gas Exploration & Production is one of the best performing industries.

3) In that industry, $DVN is undervalued with (4) a short squeeze potential (as seen from CUE Vital snapshot).

5) DVN has positive earnings growth.

Among its industry peer stocks, as seen from CUE Vital peer analysis (not shown here), DVN is the only one of two stocks with increasing earnings growth and undervaluation. Between those two stocks, DVN is up by a much more significant percentage today (up by 14%+ at the time of this post, ~11 AM EST 31st Mar 2020).

6) Weekly Backdrop changed from bearish magenta to neutral yellow with (7) Bullish Pressure and (8) Pressure U-Turn.

9) Traffic Light daily color turned bullish today.

10, 11, 12) The Last three Pressures had been bullish.

13) DVN is at Price Extreme Low, and (13) is coming out of a squeeze.

You may keep an eye on this stock. There is no CUE trade setup as of now. I am sharing it as an example of top-down analysis using real-time CUE tools.

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$DVN ended the day with a candle with an upper tail.

That is not bullish as per CUE guidelines. There is, therefore, even less reason to buy the stock today (there was no valid setup when I posted the original post).

One may continue to track this undervalued stock that is also paying a decent dividend to see if it can go up in the coming days.

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In my last post on $DVN on 31st Mar, I mentioned about tracking the stock for a buying opportunity.

Here is CUE At A Glance chart of DVN with the bullish CUE signals. The stock is up by more than 20% today.

1, 2, 3) Weekly Thrust, Jump and OBV are improving after Thrust reaching extreme low from where reversals are likely.

4) Bullish shape candle and Backdrop color changed to neutral (yellow).

5) Bullish Pressure and (6) U-Turn.

7) Weekly Reversal at Price Extreme Low.

8, 9, 10) The daily Thrust, Jump and OBV are improving after Thrust and Jump hitting extreme low from where reversals are likely.

11) Flow color is bullish (cyan) and candle shape is bullish too in the daily chart.

12) Memory trendline support.

13) Extreme Bullish PRessure.

14) Coming out of a squeeze.

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Disclaimer: This site is for educational purposes only, explaining the use of CUE systems and techniques. It is not for trade advice. Trading involves risk. You and only you are solely responsible for the outcome of your trades.

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