Archive

Posts Tagged ‘NOV’

National-Oilwell Varco, Inc. (NYSE:NOV)

July 16th, 2009 Ask Chip No comments

Q:Chip,

 Hello. I have seen your ternd alert for NOV. I have
bought “NOV” 2 times with an average price of
$32.765.

Do you think I need to hang on to it or sell
it.

 Thanks,

Vicky

A: Hi Vicky.  We just
issued an Uptrend a few days ago for NOV at $33 so your entry price is great! 
The 50-day moving average may be of some resistance at $34.79 so watch that
level closely.  If it can close above that, it should have further upside to
retest the $40 level again.  Short term moved may be impacted with oil price
fluctuation but we are seeing a possible turn there as well. 

 

Tags:

National-Oilwell Varco, Inc. (NYSE:NOV)

July 13th, 2009 Ask Chip 1 comment

Q: Hey Chip,

Just saw your post about NOV.  I bought at 35…should I consider selling or hold onto it a big longer?

Regards,
Jim

A: We issued a Downtrend alert on shares of NOV @ $35.36 back on June 17th.  That was the day it tested the 50-day moving average.  It has since gone down to support at the 200-day moving average and may likely try and find a base there from which to rally.  We will need to see some evidence of a rally before an Uptrend can be confirmed.  You should watch those levels carefully because if a stock goes below its 200-day for too long, potential sellers get anxious.  Failure there would mean mid-20s for NOV as that is where it last had support.

Tags: