A strongly rising On-Balance-Volume (OBV) line on Devon Energy (DVN) tells me someone is buying it. I am looking to join them.
In this chart of DVN, above, it doesn't look like a multi-month bottom formation, but I see a strongly rising OBV line and that tells me someone has aggressively bought DVN in the past two months. The 50-day Moving Average has flattened out and prices are above it. Strategy: Go long DVN here and use a sell-stop at $39 for now. Add to longs on strength over $45. Both $50 and $55 are our upside targets.