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Archive
- 10/23/2026 -
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National Oilwell Varco, Inc. (NOV) Technical Analysis
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| Summary:
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| | It was a first positive week for the National Oilwell Varco, Inc. (NOV). During the week, the NOV gained 0.83 points, or 4.38%, and closed at 19.76 on Friday, October 23, 2026. It was the best weekly gain since August 14, 2026. Weekly volume was -19% below average.
NOV is a member of Energy Sector. Energy is the most overbought 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 January 27, 2023 at 24.83 and reached 10.84 on April 8, 2025. NOV lost 13.99 points, or 56.34%, in 114 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (8.16) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See NOV medium-term trend chart]
A medium-term uptrend had started on April 8, 2025 at 10.84 and reached 21.93 on September 9, 2026. NOV gained -11.09 points, or -102.31%, in 74 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 19.37 and resistance is at 22.23. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising 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 September 11, 2026. Use the following link to access a MACD help.
Short-term trend: [See NOV short-term trend chart]
A short-term downtrend had started on September 9, 2026 at 21.93 and reached 18.23 on October 22, 2026. NOV lost 3.70 points, or 16.87%, in 43 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (18.19) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.
Daily Technical Indicators: [See NOV daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (6.07%) is close to one year low (8.33%). It is 55.86% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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