National Oilwell Varco Set to Possibly Pullback After Yesterday's Rally of 1.08%
National Oilwell Varco (NYSE:NOV) traded in a range yesterday that spanned from a low of $36.66 to a high of $37.38. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $36.95 on volume of 2.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 44% above that low price at $37.10 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.4%.
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.
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