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Bullish Moving Average Cross by Nabors Industries (NBR)

By David Diaz

Nabors Industries (NYSE:NBR) crossed over its 10-day moving average of $12.83 on a volume of 1.3 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Nabors Industries share prices have moved between a 52-week high of $16.99 and a 52-week low of $4.93 and are now trading 162% above that low price at $12.94 per share. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 1.5%.

SmarTrend recommended that subscribers consider buying shares of Nabors Industries on May 31st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $9.33. Since that recommendation, shares of Nabors Industries have risen 35.9%. We continue to monitor NBR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Nabors Industries

Ticker(s): NBR