National-Oilwell: Breaking above key resistance (NYSE:NOV)

by Josh National-Oilwell Inc. ($NOV) is resolving it’s latest consolidation to the upside. National-Oilwell Inc. is up 2.34% at $76.01 on a volume of 2,541,620 shares today, which is heavier than average at this point in the trading day.

Shares are breaking above the $74 range that has proven to be resistance in 2013. Also on the technical front, shares are resolving an ascending triangle to he upside today.

National-Oilwell ($NOV) shares are above both the 50 day and 200 day moving averages, proving a bullish back drop to the price action.

52 Week Range $63.08-$89.95 Market Cap 32,527,731,453 Average Volume 3,038,046 Dividend Yield 1.40% Institutional Ownership 88.20% Insider Ownership: 0.30% Percentage of Float Short 2.20% Beta 1.62

National-Oilwell Inc. National Oilwell Varco, Inc. is an equipment supplier in the drilling industries which are used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry.

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