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Archive
- 2/28/2025 -
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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 dropped -0.25 points, or -1.65%, and closed at 14.86 on Friday, February 28, 2025. Weekly volume was -17% below average.
 Long-term trend: [See NOV long-term trend chart]
A long-term downtrend had started on July 31, 2024 at 21.20 and reached 13.94 on December 23, 2024. NOV lost 7.26 points, or 34.25%, in 20 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (12.81) 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 December 23, 2024 at 13.94 and reached 16.66 on February 5, 2025. NOV gained -2.72 points, or -19.51%, in 6 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 13.97 and resistance is at 17.85. A Broadening Ascending 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 Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending 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 above its signal line since January 31, 2025. This is an indication that the medium-term trend is up. 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 February 5, 2025 at 16.66 and reached 14.71 on February 28, 2025. NOV lost 1.95 points, or 11.70%, in 23 days. The price is now at the 7.69% retracement level.
 Daily Technical Indicators: [See NOV daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since February 19, 2025. This is an indication that the short-term trend is down.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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