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After Yesterday's Rally of 1.11% Shares Could Potentially Pullback

By Shiri Gupta

Natl Oilwell Var (NYSE:NOV) traded in a range yesterday that spanned from a low of $43.95 to a high of $45.08. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $44.19 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 24.0%. We continue to monitor NOV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Natl Oilwell Var has traded in a range of $29.90 to $45.08 and is now at $44.90, 50% above that low. The 200-day and 50-day moving averages have moved 0.47% higher and 1.03% higher over the past week, respectively.

Keywords: rebounders natl oilwell var

Ticker(s): NOV