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(NOV) Proactive Strategies

Longer Term Trading Plans for NOV
  • Buy NOV slightly over 19.8 target 22.13 stop loss @ 19.74 Details
  • The technical summary data tells us to buy NOV near 19.8 with an upside target of 22.13. This data also tells us to set a stop loss @ 19.74 to protect against excessive loss in case the stock begins to move against the trade. 19.8 is the first level of support below 20.23 , and by rule, any test of support is a buy signal. In this case, support 19.8 is being tested, a buy signal would exist.

  • Short NOV slightly under 22.13, target 19.8, stop loss @ 22.19 Details
  • The technical summary data is suggesting a short of NOV as it gets near 22.13 with a downside target of 19.8. We should have a stop loss in place at 22.19though. 22.13 is the first level of resistance above 20.23, and by rule, any test of resistance is a short signal. In this case, if resistance 22.13 is being tested, a short signal would exist.

Swing Trading Plans for NOV
  • Buy NOV slightly over 22.13, target n/a, Stop Loss @ 22.07 Details
  • If 22.13 begins to break higher, the technical summary data tells us to buy NOV just slightly over 22.13, with an upside target of n/a. The data also tells us to set a stop loss @ 22.07 in case the stock turns against the trade. 22.13 is the first level of resistance above 20.23, and by rule, any break above resistance is a buy signal. In this case, 22.13, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short NOV slightly near 22.13, target 20.06, Stop Loss @ 22.19. Details
  • The technical summary data is suggesting a short of NOV if it tests 22.13 with a downside target of 20.06. We should have a stop loss in place at 22.19 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 22.13, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for NOV
  • Buy NOV slightly over 22.13, target n/a, Stop Loss @ 22.08 Details
  • If 22.13 begins to break higher, the technical summary data tells us to buy NOV just slightly over 22.13, with an upside target of n/a. The data also tells us to set a stop loss @ 22.08 in case the stock turns against the trade. 22.13 is the first level of resistance above 20.23, and by rule, any break above resistance is a buy signal. In this case, 22.13, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short NOV slightly near 22.13, target 20.18, Stop Loss @ 22.18. Details
  • The technical summary data is suggesting a short of NOV if it tests 22.13 with a downside target of 20.18. We should have a stop loss in place at 22.18 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 22.13, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Real Time Updates are available on our Nov Inc. (NOV) Page here: NOV.

NOV Ratings for April 03:

Term →Near Mid Long
Rating Strong Strong Strong
P1 0 0 17.54
P2 19.81 19.55 19.8
P3 20.18 20.06 22.13
Triggers may have already come
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Support and Resistance Plot Chart for NOV

NOV Long Term Analysis for April 3 2024

Blue = Current Price
Red= Resistance
Green = Support

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Don't over think it!  Trading Nov Inc. (NYSE: NOV) or any other stock can be rewarding if the simple rules of technical analysis are observed before making any decisions.  This should be an integral part of the investment process.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for NOV change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if NOV is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for NOV too.  All of these are offered below the Summary Table.