NOV INC (NOV) Stock Technical Analysis
USA - NYSE:NOV - US62955J1034 - Common Stock
Taking everything into account, NOV scores 8 out of 10 in our technical rating. Although NOV is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Although NOV has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
11.49
When analyzing the support we can see 4 important areas.
- A support zone ranging from 14.83 to 15.01. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 12.51 to 12.58. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 11.84 to 11.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @11.61 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 15.73 to 15.73. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for NOV is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NOV is up. |
| ChartMill Relative Strength | 61.08 | NEUTRAL | NOV is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of NOV is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of NOV is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of NOV is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 55.22 | NEUTRAL | The RSI value for NOV is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests NOV has a negative trend. |
| Stochastics (14,3) | 62.6 | NEUTRAL | The Stochastics value for NOV is a neutral value. |
| Average True Range in percent/ATR (20) | 3.59 | MEDIUM VOLATILITY | The ATR as a percentage value for NOV suggests some volalility. |
| Average Directional Index/ADX (14) | 35.28 | POSITIVE | The high ADX value value for NOV suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 15.74 | 14.82 | 0.92 (5.84%) | 17.11% |
| An entry @15.74. This is a Buy Stop order right above the resistance zone. | An exit @14.82. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.92 points, which is 5.84%. | When investing 17.11% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
15.02
-0.7 (-4.45%)
NOV INC / NOV FAQ
What is the technical rating for NOV stock?
ChartMill assigns a technical rating of 8 / 10 to NOV.
What is the trend direction for NOV stock?
The current trend direction for NOV INC (NOV) is Bullish.
What is the RSI signal for NOV stock?
NOV INC (NOV) has an RSI value of 55.2223. This indicates that the stock is currently neutral.
Can you provide the short term momentum for NOV INC?
The short term momentum for NOV INC (NOV) is positive.
Can you provide the support and resistance levels for NOV INC?
NOV INC (NOV) has a support level at 15.01 and a resistance level at 15.73. Check the full technical report for our detailed analysis of NOV support and resistance levels.