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Long

Time to get in National Oilwell Varco

NYSE:NOV   NATIONAL OILWELL VARCO INC
193 1 1
I have been watching Varco for quite some time as the fundamentals of the company are excellent. However until today I have not seen an a good entry point. The first display of Varco's strength was last friday. On friday oil             was down significantly and Varco was up over 1.5%, and while oil             us up, Varco continues to display rise and has now broken out.

Regarding confirmation, both MACD and RSI have been trending upward for the last couple weeks and have now been confirmed with price. Volume has yet to confirm. The final signal that signaled a buy was the presence of the an ascending triangle .
Looks like NOV tried to breakout but overall market pressure caused it to hunker down (6/18,6/19) and break the trendline you see (6/20). I am curious for your thoughts on if that trend line is still holding or if now we are looking for a pull-back like after the 12/14/12 - 1/30/13 period
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