People Are Buying Up Devon, I Want a Piece; 25% Upside in the Chart

I see a strong chart that tells me someone has aggressively bought the stock in the past two months.
By Bruce Kamich ,

NEW YORK (TheStreet) -- A strongly rising On-Balance-Volume (OBV) line on Devon Energy (DVN) - Get Report 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.

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