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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 $33.91 on a volume of 853K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

National Oilwell Varco share prices have moved between a 52-week high of $56.13 and a 52-week low of $25.74 and are now trading 34% above that low price at $34.48 per share. 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 its subscribers protect gains by selling shares of National Oilwell Varco on April 19th, 2017 by issuing a Downtrend alert when the shares were trading at $36.45. Since that call, shares of National Oilwell Varco have fallen 7.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses national oilwell varco

Ticker(s): NOV