Devon Energy Long Position Opened

⛽ And last but not least for today: I’ve added $DVN (-1,23%) to my Blue Chip Fibonacci Portfolio.

What caught my attention is that the stock is currently trading very close to the 61.8% Fibonacci retracement level, an area I consider particularly interesting within my investment framework. The setup aligns well with my strategy and offered an opportunity to initiate a long position.

Beyond the technical picture, I like Devon Energy's exposure to the energy sector, its disciplined approach to capital allocation, and its ability to generate strong cash flows during favorable commodity cycles. While energy stocks can be volatile and heavily influenced by oil and gas prices, they can also provide attractive long-term opportunities when purchased at reasonable valuations.

I'm looking forward to seeing how this position performs over the coming months and years.

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#mikeupegui

Fred@Fred999

1Mês

But no return in over 20 years

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Mike@MikeUpegui

@Fred999 fair point, but that would mainly be true if someone bought at or near the peak.. Those who entered close to the bottom have seen returns of roughly 900 %. That's why I focus on valuation, risk management, and today's opportunity rather than the 20-year chart alone. Let's see how the thesis develops from here.

Devon Energy- Long Position Opened