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National Oilwell Varco Bearish Moving Average Crossover Alert (NOV)

By Amy Schwartz

National Oilwell Varco (NYSE:NOV) shares have crossed bearishly below their 10-day moving average of $34.46 on a volume of 587K 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 $34.33, which is 33% above that low price. 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 recommended that subscribers consider buying shares of National Oilwell Varco on April 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.85. Since that recommendation, shares of National Oilwell Varco have risen 8.6%. We continue to monitor NOV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses national oilwell varco

Ticker(s): NOV