National Oilwell Varco Inc, Schlumberger NV, Baker Hughes Co are the ones to notice as they lead energy stocks on an uptrend.
Leading equity indices in the US rose as Dow Jones closed the day at 31,083, having gained 2.47%. S&P 500 gained 2.37% and closed at 3,752.75.
What is an uptrend?
A trend is the overall direction of a market or an asset's trading price over a certain period. An uptrend is when the price is generally pointing upwards; there can be certain periods of time when the price falls, yet the trend remains in an upward direction.
NOV's uptrend continues, up to $21.66: NOV Inc. opened at $20.27 Friday before posting solid session gaining 8.35%
National Oilwell Varco Inc continues a 6 day surge, reaping a total of 21.14%. Friday's session pointed in the same direction — after finishing Thursday at $20, NOV Inc. went up by 8.35% Friday and remained at the $21.66 level. Daily trading volume (6.75 million shares) was higher than the current multiday average of 3.92 million.
Shoots up for 6 days and gaining 19.57%: Schlumberger on track to post record single day jump of $4.72 points (+10.33%)
Maintaining its 6 days rise (+$3.53), Friday's session pointed in the same direction — Schlumberger rose as high as $50.54 before giving up its gains and dropping back to $50.41 before the close on Friday. Daily trading volume (35.28 million shares) increased, making up 231% of the 21-day average (15.27 million).
A 6 day, 16.41% uptrend: Baker Hughes ended Friday at $26.67, a 2.77% increase
Baker Hughes continues a 6 day uptrend, gaining a total of 16.41%. Friday's session pointed in the same direction — bullish sentiment helped Baker Hughes to hammer out a noteworthy $25.73 to $26.82 range Friday, and finally closing at $26.67 to end the session. Daily trading volume (11.81 million shares) was slightly greater than the current multiday average of 9.31 million.
A 15.2% increase in 6 days: Halliburton on track to post record single day jump of $2.22 points (+7%)
Halliburton continues a 6 day surge, reaping a total of 15.2%. Friday's session pointed in the same direction — Halliburton topped out at $34.15 having ended Friday at $33.88. However, despite early momentum, the stock gave up its gains to now trade at $33.88. Daily trading volume (17.50 million shares) increased, making up 145% of the 21-day average (12 million).
Halliburton is scheduled to announce earnings results tomorrow. The consensus Earnings Per Share estimate is 0.5579 and the consensus revenue estimate is $5.33 billion.