NOV Inc. wraps up its best day in 4 months

NOV increases its stock value by 6.75% for its largest single-day gain since Jan 6.

NOV's uptick comes amid good United States macroeconomic data released during the day — United States Non Farm Payrolls beat the 180,000 projections, with 339,000.

On the flip side, highly important Average Hourly Earnings data from United States beat analyst expectations of 0.4% with a reading of 0.3%. Highly important Unemployment Rate data from United States beat analyst expectations of 3.5 with a reading of 3.7.

Trend analysis indicates that National Oilwell Varco Inc made an initial breakout above its 21 day Simple Moving Average at $15.17, a potential indicator of a newly emerging bullish phase. Price action overcame a known Fibonacci resistance level at $15.31 by around 50 cents with prices hammering out a $15 – $16 session range. According to asset volatility analysis, NOV's upper Bollinger Band® is at $16.13, this is a slight indication of a slowdown. NOV Inc.'s notable support and resistance levels: although NOV Inc. is appreciating today after rising as high as $16, price action is now slowing and consolidating around 38 cents below the $16.19 resistance level.

Overall, while NOV Inc. has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

A look at other energy stocks also showed bullish price action as Chevron was up 2.69%. Exxon Mobil added 2.32% to its value, and traded at $105.76. BP was up 2.68%.

NOV hit a significant low of $14.07 around 3 days ago, but has since recovered 5.26%.