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Look for Shares of Nabors Inds Ltd to Potentially Rebound after Yesterday's 2.29% Sell Off

By Shiri Gupta

Nabors Inds Ltd (NYSE:NBR) traded in a range yesterday that spanned from a low of $6.16 to a high of $6.34. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $6.28 on volume of 5.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Nabors Inds Ltd share prices have been bracketed by a low of $5.32 and a high of $8.86 and are now at $6.20, 16% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1.2%.

SmarTrend is tracking the current trend status for Nabors Inds Ltd and will alert subscribers who have NBR in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders nabors inds ltd

Ticker(s): NBR