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Archive
- 7/24/2026 -
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National Oilwell Varco, Inc. (NOV) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a third positive week after 3 consecutive negative weeks for the National Oilwell Varco, Inc. (NOV). During the week, the NOV gained 1.24 points, or 6.35%, and closed at 20.76 on Friday, July 24, 2026. It was the best weekly gain since April 24, 2026. Weekly volume was -16% below average.
 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 (8.60) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. NOV may retest the broken resistance line. It is considered to be a support line now. 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 downtrend had started on June 4, 2026 at 21.55 and reached 17.73 on July 6, 2026. NOV lost 3.82 points, or 17.73%, in 4 weeks. The price is now at the 79.32% retracement level.
 Weekly Technical Indicators: [See NOV weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since May 22, 2026. This is an indication that the medium-term trend is down. 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 July 6, 2026 at 17.73 and reached 20.93 on July 24, 2026. NOV gained -3.20 points, or -18.05%, in 18 days. The price is now at the 5.31% retracement level.
 Daily Technical Indicators: [See NOV daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index, Williams' Percentage Range and 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is above its signal line since July 9, 2026. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance 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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