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Natl Oilwell Var Falls 5.95% on Heavy Volume: Watch For Potential Rebound

By David Diaz

Natl Oilwell Var (NYSE:NOV) traded in a range yesterday that spanned from a low of $37.82 to a high of $39.00. Yesterday, the shares fell 6.0%, which took the trading range below the 3-day low of $37.93 on volume of 3.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Natl Oilwell Var on February 20th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.58. Since that recommendation, shares of Natl Oilwell Var have risen 15.0%. We continue to monitor NOV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Natl Oilwell Var has traded in a range of $29.79 to $43.63 and is now at $38.44, 29% above that low. The 200-day and 50-day moving averages have moved 0.52% lower and 1.36% higher over the past week, respectively.

Keywords: rebounders natl oilwell var

Ticker(s): NOV