National-Oilwell Varco Hits New 52-Week Highs at $82.74

Many traders and investors see the 52-week high or low as an important indicator. Stocks that have a long-term trend in a certain direction are likely to continue, as that trend is the path of least resistance. In this case, shares of National-Oilwell Varco (NYSE: NOV) are hitting new 52-week highs. Traders and investors believe this to be a positive indicator that the stock will continue its trend.