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Look for Shares of Nabors Inds Ltd to Potentially Pullback after Yesterday's 3.01% Rise

By Amy Schwartz

Nabors Inds Ltd (NYSE:NBR) traded in a range yesterday that spanned from a low of $8.15 to a high of $8.40. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $8.19 on volume of 11.4 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 monitoring the recent change of momentum in Nabors Inds Ltd. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Nabors Inds Ltd in search of a potential trend change.

In the past 52 weeks, Nabors Inds Ltd share prices have been bracketed by a low of $5.32 and a high of $18.40 and are now at $8.34, 57% above that low price. The 200-day and 50-day moving averages have moved 0.8% lower and 1.54% higher over the past week, respectively.

Keywords: rebounders nabors inds ltd

Ticker(s): NBR