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Next Resistance Level for Natl Oilwell Var (NOV) is $20.79

By James Quinn

Shares of Natl Oilwell Var (NYSE:NOV) opened today above their pivot of $20.20 and have already reached the first level of resistance at $20.49. Should the shares continue to rise, the resistance pivots of $20.79 and $21.38 will be of interest.

Natl Oilwell Var has overhead space with shares priced $20.19, or 45.2% below the average consensus analyst price target of $36.85. The stock should find initial resistance at its 50-day moving average (MA) of $21.10 and further resistance at its 200-day MA of $24.45.

In the past 52 weeks, shares of Natl Oilwell Var have traded between a low of $18.05 and a high of $46.17 and are now at $20.19, which is 12% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% 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: pivot alerts natl oilwell var

Ticker(s): NOV