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National Oilwell Varco Crosses Above its 10-day MA (NOV)

By James Quinn

Today, shares of National Oilwell Varco (NYSE:NOV) have crossed bullishly above their 10-day moving average of $34.14 on a volume of 530K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher 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 $34.35, 33% above that low. The 200-day and 50-day moving averages have moved 0.52% lower and 1.36% higher over the past week, respectively.

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 5.7%. 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