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SmarTrend Watching for Potential Pullback in Shares of National Oilwell Varco After 1.08% Gain

By James Quinn

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.

In the past 52 weeks, shares of National Oilwell Varco have traded between a low of $25.74 and a high of $56.13 and are now at $37.10, which is 44% above that low price. Over the last five market days, 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.

Keywords: rebounders national oilwell varco

Ticker(s): NOV