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After Yesterday's Rally of 4.17% Shares Could Potentially Pullback

By Nick Russo

National Oilwell Varco (NYSE:NOV) traded in a range yesterday that spanned from a low of $33.91 to a high of $35.26. Yesterday, the shares gained 4.2%, which took the trading range above the 3-day high of $34.60 on volume of 1.7 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 is tracking the current trend status for National Oilwell Varco and will alert subscribers who have NOV in their portfolio or watchlist when shares have changed trend direction.

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 $35.13, which is 36% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 0.5%.

Keywords: rebounders national oilwell varco

Ticker(s): NOV