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Look for Shares of Natl Oilwell Var to Potentially Rebound after Yesterday's 2.67% Sell Off

By Shiri Gupta

Natl Oilwell Var (NYSE:NOV) traded in a range yesterday that spanned from a low of $22.18 to a high of $22.63. Yesterday, the shares fell 2.7%, which took the trading range below the 3-day low of $22.29 on volume of 1.8 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 $18.05 and a high of $33.37 and are now at $22.40, 24% above that low price. The 200-day and 50-day moving averages have moved 0.28% lower and 0.03% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Natl Oilwell Var and will alert subscribers who have NOV in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders natl oilwell var

Ticker(s): NOV