--- title: "Pre-market trend | Devon Energy (DVN) on May 18, oil and gas stocks quietly strengthen, are bulls brewing a new wave?" type: "News" locale: "en" url: "https://longbridge.com/en/news/286816664.md" description: "At yesterday's close, Devon Energy's stock price rose slightly by 0.38%, with little volatility, but the K-line formed a small bullish candle, continuing the recent mild upward trend. The MACD daily line re-established a bullish signal above the zero axis, indicating that although the price increase is modest, the balance of power between bulls and bears is still tilting towards the bulls, and the basic structure of the medium-term upward trend remains intact. The trading volume was approximately $759 million, with stable volume, showing that market participants have formed a relatively balanced trading rhythm around this price level. On the news front, the energy sector is experiencing dual benefits. On one hand, Brent crude oil has surpassed $110 per barrel, and WTI crude oil is reported above $100, which directly benefits the profit expectations of oil and gas exploration and production companies in a high oil price environment. On the other hand, Trump announced the postponement of military action against Iran at the request of three Middle Eastern countries, bringing new hope to US-Iran negotiations, and crude oil prices experienced a process of initially rising and then falling during the session. For Devon Energy, even if oil prices experience short-term fluctuations, the current oil price level above $100 still provides strong cash flow support. The Energy Select Sector SPDR Fund (XLE) rose 1.92% yesterday, with overall funds in the sector leaning towards a warm outlook. From a technical perspective, the stock price is operating above the 5-day and 10-day moving averages, with the short-term moving average system showing a bullish divergence. Currently, it is important to note that although bullish signals have been confirmed, the increase yesterday was minimal and trading volume did not show significant expansion, indicating that the pace of bullish advancement is cautious, more like \"gathering strength\" rather than \"exploding.\"" datetime: "2026-05-19T13:00:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286816664.md) - [en](https://longbridge.com/en/news/286816664.md) - [zh-HK](https://longbridge.com/zh-HK/news/286816664.md) --- # Pre-market trend | Devon Energy (DVN) on May 18, oil and gas stocks quietly strengthen, are bulls brewing a new wave? Yesterday's closing price for Devon Energy rose slightly by 0.38%, with little volatility, but the K-line formed a small bullish candle, continuing the recent mild upward trend. The MACD daily line re-established a bullish signal above the zero axis, indicating that although the price increase is modest, the balance of power between bulls and bears is still tilting towards the bulls, and the basic structure of the medium-term upward trend remains intact. The trading volume was approximately $759 million, with stable volume, showing that market participants have formed a relatively balanced trading rhythm around this price level. On the news front, the energy sector is experiencing dual benefits. On one hand, Brent crude oil has broken through $110 per barrel, and WTI crude oil is reported above $100, with the high oil price environment directly benefiting the profit expectations of oil and gas exploration and production companies. On the other hand, Trump announced a postponement of military action against Iran at the request of three Middle Eastern countries, bringing new hope to US-Iran negotiations, with oil prices experiencing a process of initially rising and then retreating during the session. For Devon Energy, even if oil prices experience short-term fluctuations, the current oil price level above $100 still provides strong cash flow support. The Energy Select Sector SPDR Fund (XLE) rose by 1.92% yesterday, with overall capital in the sector leaning towards a warm outlook. From a technical perspective, the stock price is running above the 5-day and 10-day moving averages, with the short-term moving average system showing a bullish divergence. Currently, it is important to note that although bullish signals have been confirmed, the price increase yesterday was minimal and the trading volume did not show significant expansion, indicating that the pace of bullish advancement is cautious, more like "gathering strength" rather than "exploding." In terms of sector linkage, peer company Diamondback Energy (FANG) also rose by 1.01% yesterday, while ExxonMobil (XOM) and Chevron (CVX) rose by 1.63% and 2.63%, respectively, with the oil and gas sector overall showing strength. The short-term trend is biased towards bullishness, with high oil prices providing fundamental support, and the technical bullish pattern is complete. However, changes in the Middle East situation may lead to sharp fluctuations in oil prices, and if subsequent negotiations make significant progress in lowering oil prices, the valuation logic of oil and gas stocks will face re-examination. _This article only provides technical analysis and market information for reference and does not constitute any investment advice. 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