After three days of going up, NOV Inc. is down 0.99% today, indicating that the rally may be coming to an end

NOV Inc. is down to $22.95, after ending Friday at $23.18. Overall, a 0.99% loss or 23 cents today.

Amid the market gloom, United States Factory Orders released today at 15:00 UTC is better than expected at -1.6% but down from preceding data of 1.7% according to new data.

Despite drifting lower in the trading session, the short-term outlook has turned positive after the MACD moved above its signal line — typically a bullish indicator.

Overall, looking at the technical analysis landscape, it seems NOV might start pointing upward in the short term.

NOV's stock value drop coincides with Exxon Mobil is down 0.58% from the beginning of the session and now trades around $112.16. Chevron is down to $164.22, losing 0.45%, after ending Friday at $164.96.

Furthermore, United States Fed Chair Powell testimony scheduled to come out tomorrow at 15:00 UTC. United States EIA Short-Term Energy Outlook is expected tomorrow at 17:00 UTC.

The Houston-based oil & gas exploration enabler has managed to gain 16.78% so far this year despite trading at lows around $14.1 previously.