NOV Chart, page-419

Coiled charts often occur when the stock has been artificially held down, This is interesting as I have followed Nov over 2020 and some of you might remember the two very large sell orders consistently floating just above the sp throughout the second half of 2020, a lot traders pointed this out. Now if we think about what a coiled spring is, It is simply a market that has a lot of potential to make a strong move in one direction after being pushed in the opposite direction or held flat over some period of time. The question is, whether it moves higher or lower . In my opinion this is where FA comes into the equation. we have observed consistent growth for NOV in the form of acquisition, revenue and partnerships over the last 12 months and as we approach up coming announcements. It appears to be the perfect recipe for a break out to the up side. Just an honest opinion from someone still learning the market. Good luck!