The COP chart seems to be forming a head and shoulders reversal...volume intact...the pattern is at the head stage. Its long term chart's very impressive and exhibits a strong upternd.
The downgrade happened right at its breakout point. Makes me wonder if they have a committed short position or if their buddies do. In a Madoff world this stuff happens. NOV should do well as PBR will need their service.
NOV has very strong financials/healthy backlog to keep it going in these turbulent times. The Credit Suisse downgrade has no merit. They have been wrong everytime.
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