NOV ended the session at $15.05, continuing its bearish run

NOV Inc.'s downtrend has seen it decline 3.71% in 3 days Friday's session continued down the same path: a tough session dominated by bearish sentiment left NOV Inc. 17 cents lower, while setting a $14.84 to $15.47 session range.

Technical chart analysis shows National Oilwell Varco Inc could begin to recover as it approaches significant support, now 28 cents away from $14.77. Dipping below could be an indication that further losses are ahead. Technical analysis trend indicators suggest that NOV made an initial break below its 10 day Simple Moving Average at $15.15, a possible indication of a forthcoming negative trend. Bearish sentiment was sufficient to push prices below the known Fib level of $15.31 serving as intraday support. Analysis based on the asset volatility indicates that NOV's lower Bollinger Band® is at $14.65, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

With market volatility ebbing, the current technical outlook indicates NOV Inc. will remain range-bound for the immediate future.

NOV Inc. was not the only decliner in the energy sector; Exxon Mobil lost 0.65% Friday and closed at $104.97.

On the other hand, positive performances could be seen by looking at other energy stocks as BP added 0.54% to its value, and traded at $35.55.

On a negative trend for around a month. The Houston-based oil & gas exploration enabler has fallen back around 38.63% over the past 4 months, from a notable high of $24.8.