COM - Devon Chevron giving lift to badly-bruised energy sector: At the Open

Energy stocks are showing signs of life after a week and a month to forget.The SPDR Energy Sector ETF ([[XLE]], +1.5%) is gaining premarket.Devon Energy ([[DVN]], +12.6%) is the big winner after its deal to acquire WPX Energy ([[WPX]], +12.5%), creating one of the largest U.S. unconventional oil producers.XLE was the worst-performing sector last week, falling more than 10%.In the past month, energy stocks are approaching bear-market territory, with XLE down more than 17%. XLE is now back down to levels last seen in early April, when shares were still climbing back from their lockdown-measures nadir.Looking at technical indicators, XLE is below its 10-, 50-, 100- and 200-day simple moving averages. But after falling into oversold territory last Wednesday, with a relative strength index currently at 25.44, there could be a rebound this week.Also helping sentiment is BofA Securities upgrading Chevron ([[CVX]], +1.6%), which is gaining ground before the bell.BofA boosted Chevron to Buy,

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Devon, Chevron giving lift to badly-bruised energy sector: At the Open