NOV pops to highest close since July 30, 2015


National Oilwell Varco Inc. (NOV) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team

Highlights

NOV closes higher for the 10th day in a row
NOV pushes through previous session high
NOV rises to highest close since July 30, 2015

Overview

Moving higher for the 10th day in a row, NOV ended Thursday at 42.93 surging $0.76 (1.8%). Today's closing price of 42.93 marks the highest close since July 30, 2015. Closing above Wednesday's high at 42.25, the share confirms its breakout through the prior session's high having traded $1.04 above it intraday.

Daily Candlestick Chart (NOV as at May 17, 2018):

Daily technical analysis candlestick chart for National Oilwell Varco Inc. (NOV) as at May 17, 2018

Thursday's trading range was $1.10 (2.6%), that's above last trading month's daily average range of $0.90. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Trading close to 2,016's high at 43.63 we could see further upside momentum if potential buy stops at the level get activated.


Market Conditions for NOV as at May 17, 2018

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