A $57 billion producer trading at 10x earnings just completed a textbook reversal — while the bearish setup that was supposed to take it to $31 quietly died. Here is the six-month to two-year case for
∙ Paid
There is a moment in every chart when the story changes. Not when a pattern completes, but when one fails.
Devon Energy spent April and May building a picture-perfect double top. Two peaks, $52.20 and $51.80, separated by a clean valley. Textbook distribution. The measured move pointed to roughly $31 — a 40% decline. Every technician watching the name had the same target circled.
It never got there.
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