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Archive
- 5/2/2025 -
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National Oilwell Varco, Inc. (NOV) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the National Oilwell Varco, Inc. (NOV). During the week, the NOV gave back -0.07 points, or -0.57%, and closed at 12.26 on Friday, May 2, 2025. Weekly volume was 55% above average.
NOV is a member of Energy Sector. Energy is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See NOV long-term trend chart]
A long-term downtrend had started on September 5, 2023 at 21.91 and reached 10.84 on April 8, 2025. NOV lost 11.07 points, or 50.52%, in 83 weeks. The price is now at the 12.83% retracement level.
 Medium-term trend: [See NOV medium-term trend chart]
A medium-term downtrend had started on February 5, 2025 at 16.66 and reached 10.84 on April 8, 2025. NOV lost 5.82 points, or 34.93%, in 8 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 8.84 and resistance is at 15.00. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See NOV weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 4, 2025. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See NOV short-term trend chart]
A short-term uptrend had started on April 8, 2025 at 10.84 and reached 12.92 on April 9, 2025. NOV gained -2.08 points, or -19.19%, in 1 days. The price is now at the 31.73% retracement level.
Daily Technical Indicators: [See NOV daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since April 23, 2025. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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