The scenarios are quite interesting at current levels for NOV. Yo you should really check out awe-some_sto-cks, they seem on point with their stocks.
When will insiders start buying shares? How much time will it take for this "Cycle" to end? Getting impatient. Time for an outsider to come in, get a seat on the board and have the company sold. Seems like they are not buying any companies, and just cutting costs and waiting for the cycle to end. That's not a pro growth strategy. Would like to see some positive action, and insider buying to show support.
New global oil discoveries are at 70 year lows. Oil companies are coming up far, far short of replacing the depletion they are experiencing out of their existing reserves. When this oil glut ends, it's going to end with a bang, and once it does, it's going to take years for new drilling to bring new supplies up and running to replace continued depletion. This glut is like water rising behind a cracking dam. The higher the water rises as the glut continues, the bigger the flood is going to be once it breaks. The longer the glut persists, the more a company like National Oilwell Varco will benefit once it breaks... and the break is inevitable.
With increasing presence of Electric Vehicles, especially Tesla, which reduces demand for crude oils. Oil prices will likely remain low for very long time. As a result, there is less incentive for drillers to drill new oil wells and invest in drilling equipment providers like NOV. A trade shorting NOV and longing TSLA will likely be profitable.
The drop in the dollar should lift oil. Not sure it's a 100% correlation with NOV, but it seems like it is.
Technicals at stoxline are showing great signs of upside potential. Six months target: $39.46.
i' m a buyer at $28.
NOV didn't fall nearly as much as many of the big oil plays did today. Seems like a good sign.
Yahoo Finance Insights
NOV is up 6.11% to 34.58
I have a feeling NOV will see a pullback now. What yall think? I started receiving notifications from awe.some.stocks the other week and so far they have presented interesting new trade ideas.
oil prices fall on friday ~~ nov trading up....production increase expected as the US exits the Paris agreement....nov benefits from this increase in production and i believe is the reason we moved higher on friday...
X axis : Stocks Price Correlation Coefficient Y axis : Quantity of stocks Sep-2016 1,000 Day Parameter 4,338 NYSE Stocks Price Analysis This stock mode of correlation coefficient is 0.9 In other words, the correlation coefficient of the other stocks
I think NOV might have reached its upward limit and that a pullback may be possible. have you guys heard of awesome-STOCKS. i started receiving their allerts and so far i am happy.