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National Oilwell Varco Rises 1.68% on Heavy Volume: Watch For Potential Pullback

By David Diaz

National Oilwell Varco (NYSE:NOV) traded in a range yesterday that spanned from a low of $34.17 to a high of $34.66. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $34.29 on volume of 1.3 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 its subscribers protect gains by selling shares of National Oilwell Varco on April 19th, 2017 by issuing a Downtrend alert when the shares were trading at $36.45. Since that call, shares of National Oilwell Varco have fallen 6.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

National Oilwell Varco share prices have moved between a 52-week high of $56.13 and a 52-week low of $25.74 and are now trading 34% above that low price at $34.59 per share. The 200-day and 50-day moving averages have moved 0.52% lower and 1.36% higher over the past week, respectively.

Keywords: rebounders national oilwell varco

Ticker(s): NOV