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Bearish Moving Average Cross by National Oilwell Varco (NOV)

By James Quinn

National Oilwell Varco (NYSE:NOV) shares have crossed bearishly below their 10-day moving average of $32.17 on a volume of 991K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of National Oilwell Varco have traded between a low of $25.74 and a high of $56.13 and are now at $31.79, which is 24% above that low price. The 200-day and 50-day moving averages have moved 0.52% lower and 1.36% higher over the past week, respectively.

SmarTrend is tracking the current trend status for National Oilwell Varco and will alert subscribers who have NOV in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses national oilwell varco

Ticker(s): NOV