An Amazing Run – NOV

Bycjrosen

Sometimes you see a stock chart that grabs you attention and makes you wonder “How!?” National Oil-well Varco (NOV) is such a company.

Words only detract from the uptrend beauty that is on this chart:

Weekly Arithmetic Chart (NOV):

Weekly Logarithmic Chart:

Daily Logarithmic Chart:

Absolute perfection.

Observe the near perfect 45 degree angular rise and the steady progression of volume.

If only all stocks behaved this way. Too bad it seems like less than 1% of stocks do so.

It’s always worth looking at an example of beauty when you find one.

 

Similar Posts

New Lows into Support Market Update and Stock Scan Oct 13

Bycjrosen

At the halfway point today, we’re balancing the odds of another bullish reversal off support against the possibility of a continuation of the persistent selling pressure we’ve seen lately. We’ll start with our chart of the S&P 500 for clues: For additional commentary, see this morning’s update on “Planning Another Possible Intraday Reversal from Positive…

New Weekly Structure and Daily Fibonacci Support Update for India Nifty 50 Index

Bycjrosen

Even if you’re not a follower of India’s stock market (charted here as the “Nifty 50” Index), the market is forming a very interesting weekly chart structural pattern and challenging a Daily Fibonacci Retracement level. Let’s take a look at the larger picture and focus on the immediate levels to watch in the index: It’s…

|

Midweek Triple US Index Daily Level Check April 17

Bycjrosen

The week so far has already been active in both directions between short-term EMA support and resistance levels. Let’s take a look at the market action – and chart structure – as the mid-week approaches. What price levels are most important to suggest trading strategies from here? Let’s start with the S&P 500: For reference,…

2 Comments

  1. NOV is definately a beauty. I got in and out of it a few times and made some nice coin on it this year. I also had it in my portfolio when NBC was doing the 1 million dollar stock contest thing earlier this year and was tracking it on my Yahoo virtual portfolio. I just looked at the portfolio and it’s up 60% (~ $600,000 on the 1 million) so far with most of the holdings in NOV and ATW holding it from around March till now. Too bad my real life portfolio isn’t even positive at the moment and if only I had a million bucks to invest sigh… lol 🙂

  2. Excellent trading, Reno! Sadly, I just found it on a scan from IBD this weekend, far too late to join the party, I feel. I usually don’t scan for stocks of that nature but I thought I’d do a different scan structure this weekend. Oh, well. I always like to show perfect patterns or “wow!” situations on the blog for people to review.

    I know! If we all were given virtual millions in the stock market, what a wonderful change some of our lives would be! Alas, when it’s real money, we often play mental games with ourselves and sabotage the gains that we could have had if it were pretend money.

    They say the way to win those virtual contests is to plunge the whole account into one or two stocks under $5 or so and hope they double, or go in on a low-priced stock right before earnings and hope you get lucky. It may win virtual challenges, but I don’t think I’ve heard of anyone doing that in real life (or at least not part of the social circles I’m in).

    I just looked at ATW and it did exceptionally well, though not as impressive as NOV.

    Thanks Reno!

Comments are closed.