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Watch for Natl Oilwell Var to Potentially Rebound After Falling 2.03% Yesterday

By Shiri Gupta

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.

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.

In the past 52 weeks, Natl Oilwell Var share prices have been bracketed by a current low of $18.10 and a high of $47.46 and are now at $18.34. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 0.4%.

Keywords: rebounders natl oilwell var

Ticker(s): NOV