NOV pops to highest close since July 30, 2015
National Oilwell Varco Inc. (NOV) Technical Analysis Report for May 17, 2018
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.
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.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.