3 US Energy Giants See Momentum Flip Bullish
Devon Energy, Diamondback Energy, and Occidental Petroleum all surged into Strong Bullish momentum with Altra Scores above 86 as the Energy sector
- Visit the stock pages: DVN, FANG, OXY
- Sector XLE , which ranks #1 for Relative Strength (Altra Sector score of 75.0 with bullish regime.)
The US stock market is showing signs of improving breadth, with the overall Altra Market score standing at 63.2, indicating an "Improving" texture. This environment often brings opportunities for active investors to pinpoint sectors and individual stocks demonstrating renewed momentum. Notably, the Energy sector currently ranks as the #1 performing sector with a bullish Altra Sector score of 75.0, signaling a confirmed leadership role that is accelerating. This sector strength is underscored by the recent bullish shifts in three prominent US Energy names: Devon Energy (DVN), Diamondback Energy (FANG), and Occidental Petroleum (OXY). Each has seen a significant surge in their individual Altra Score – a 0-100 momentum gauge per stock, derived from the alignment of Exponential Moving Averages (EMAs) and the trend of the Relative Strength Index (RSI) across daily, weekly, and monthly timeframes. A higher score signifies more bullish momentum. This trio's collective move warrants a closer look as potential indicators of broader momentum shifts within the Energy space.
Devon Energy (DVN)
Devon Energy (DVN) has made a decisive move, with its Altra Score rocketing from 34.4 (Bearish) to 86.5 (Strong Bullish) on July 29, 2026. This dramatic shift places DVN firmly in a high-momentum category. Examining the underlying technicals, DVN's price is now positioned above its key EMAs across multiple timeframes, which is a strong component of a high Altra Score. The Relative Strength Index (RSI) readings for DVN are supportive, with the daily at 54.15, weekly at 51.93, and monthly at 59.5. While the stock had experienced a bearish Weekly EMA Crossover on July 6, 2026, the current data shows it is "Top-Down Aligned," indicating that short-term, medium-term, and long-term momentum indicators are now synchronized in a bullish direction. This alignment, combined with the sector's acceleration, suggests that DVN is experiencing significant upward pressure. The broader market context further supports this, with 65.81% of stocks above their 20-day EMA and a 15-day score trend of +2.3, suggesting a gradual improvement in market sentiment despite more declines than advances (186/317) on the day.
Diamondback Energy (FANG)
Diamondback Energy (FANG) also signaled a strong momentum shift, moving from an Altra Score of 43.2 (Neutral) to an impressive 88.7 (Strong Bullish) on the same date. This upward revision pushes FANG into an even stronger momentum category than DVN, reflecting very robust technicals. FANG's price is similarly positioned above its key EMAs, a foundational element for strong momentum. Its RSI readings are also robust, with the daily at 56.55, weekly at 57.71, and monthly at 65.88 – all comfortably in bullish territory and showing consistent strength across timeframes. Unlike DVN, FANG's bullish Weekly EMA Crossover occurred much earlier, on November 21, 2025, suggesting a more established bullish trend that has now intensified. The stock is also "Top-Down Aligned," reinforcing the synchronized strength across daily, weekly, and monthly momentum indicators. This strong individual showing by FANG aligns perfectly with the Energy sector's status as a confirmed leader and its accelerating relative strength, as indicated by its RS RSI of 54.1.
Occidental Petroleum (OXY)
Occidental Petroleum (OXY) completes this bullish trio, with its Altra Score climbing from 42.1 (Neutral) to 87.7 (Strong Bullish) on July 29, 2026. This significant jump mirrors the momentum observed in DVN and FANG, reinforcing a broader positive sentiment within the Energy sector. OXY's price, too, is positioned above its key EMAs, contributing to its high Altra Score. Its RSI readings are constructive, with the daily at 55.55, weekly at 54.25, and monthly at 57.37, indicating healthy momentum without being overextended. OXY's bullish Weekly EMA Crossover took place on February 6, 2026, indicating that it has been building bullish momentum for some time, which has now reached a "Strong Bullish" inflection point. The fact that OXY is also "Top-Down Aligned" further validates the strong, multi-timeframe momentum. With the Altra Sector score for Energy at 75.0 and ranked #1, these individual stock shifts provide further evidence of the sector's robust and accelerating leadership within the broader improving market, where the Altra Market score is signaling a selective environment.
The simultaneous surge into "Strong Bullish" territory for Devon Energy, Diamondback Energy, and Occidental Petroleum, as reflected by their Altra Scores, presents a compelling narrative for the US Energy sector. This cluster of momentum shifts occurs while the Altra Sector for Energy is identified as a confirmed leader and accelerating, underpinned by an RS RSI of 54.1. With the overall Altra Market score signaling improving breadth, yet advising selectivity due to 186 advances against 317 declines on the day, these high-scoring Energy stocks stand out. Their "Top-Down Aligned" status, indicating synchronized bullish momentum across daily, weekly, and monthly timeframes, suggests a robust foundation for their recent gains. For traders and investors monitoring sector rotation and individual stock momentum, these developments in DVN, FANG, and OXY provide clear, data-driven insights into where strength is currently building.
What is the Altra Score? The Altra Score is AltraOne's proprietary momentum score for individual stocks, ranging from 0 to 100. It measures EMA structure and RSI momentum across multiple timeframes. A score above 60 is Bullish, below 40 is Bearish, and 40–60 is Neutral. The score is updated every trading day after market close based on end-of-day data.
Explore the full Signal History on AltraOne to see every EMA crossover signal across your watchlist — going back 52 weeks. The weekly EMA crossover is AltraOne's highest-conviction intermediate momentum signal; the Signal History page lets you track how these have played out over time.
Altra Score is a momentum indicator reflecting EMA alignment and RSI trend across daily, weekly, and monthly timeframes. It is not investment advice. Past momentum does not guarantee future performance. Please consult a SEBI-registered advisor before making investment decisions.