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Bearish Moving Average Cross by National Oilwell Varco (NOV)

By David Diaz

National Oilwell Varco (NYSE:NOV) shares have crossed bearishly below their 10-day moving average of $33.78 on a volume of 680K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, National Oilwell Varco has traded in a range of $25.74 to $56.13 and is now at $33.15, 29% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.4%.

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