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After Yesterday's Decline of 5.95%, Natl Oilwell Var Offers Investors Better Value

By James Quinn

Natl Oilwell Var (NYSE:NOV) traded in a range yesterday that spanned from a low of $37.82 to a high of $39.00. Yesterday, the shares fell 6.0%, which took the trading range below the 3-day low of $37.93 on volume of 3.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Natl Oilwell Var share prices have been bracketed by a low of $29.79 and a high of $43.63 and are now at $38.44, 29% above that low price. Over the past week, 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 Natl Oilwell Var on February 20th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.58. Since that recommendation, shares of Natl Oilwell Var have risen 15.0%. We continue to monitor NOV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders natl oilwell var

Ticker(s): NOV