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Natl Oilwell Var Falls 2.03% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

Natl Oilwell Var (NYSE:NOV) traded in a range yesterday that spanned from a low of $18.10 to a high of $18.53. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $18.71 on volume of 2.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Natl Oilwell Var share prices have moved between a 52-week high of $47.46 and the current low of $18.10 and are currently at $18.34 per share. The 200-day and 50-day moving averages have moved 0.99% lower and 0.38% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Natl Oilwell Var. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Natl Oilwell Var in search of a potential trend change.

Keywords: rebounders natl oilwell var

Ticker(s): NOV