After Yesterday's Rally of 6.48% Shares Could Potentially Pullback
Nabors Industries (NYSE:NBR) traded in a range yesterday that spanned from a low of $9.65 to a high of $10.21. Yesterday, the shares gained 6.5%, which took the trading range above the 3-day high of $9.91 on volume of 5.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend is tracking the current trend status for Nabors Industries and will alert subscribers who have NBR in their portfolio or watchlist when shares have changed trend direction.
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 106% above that low price at $10.17 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%.
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