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Natl Oilwell Var Set to Possibly Rebound After Yesterday's Selloff of 3.20%

By James Quinn

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.

In the past 52 weeks, shares of Natl Oilwell Var have traded between a low of $24.27 and a high of $49.08 and are now at $26.69, which is 10% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.4%.

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.

Keywords: rebounders natl oilwell var

Ticker(s): NOV