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Look for Shares of Natl Oilwell Var to Potentially Rebound after Yesterday's 3.20% Sell Off

By David Diaz

Natl Oilwell Var (NYSE:NOV) traded in a range yesterday that spanned from a low of $26.59 to a high of $27.73. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $26.77 on volume of 1.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Over the past year, Natl Oilwell Var has traded in a range of $24.27 to $49.08 and is now at $26.69, 10% above that low. The 200-day and 50-day moving averages have moved 0.59% lower and 0.39% lower over the past week, respectively.

Keywords: rebounders natl oilwell var

Ticker(s): NOV