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Nabors Inds Ltd (NBR) Approaches New Downside Target of $1.86

By Amy Schwartz

Nabors Inds Ltd (NYSE:NBR) has opened bearishly below the pivot of $2.08 today and has reached the first level of support at $1.95. Investors may be interested in a cross of the next downside pivot targets of $1.86 and $1.64.

In the past 52 weeks, Nabors Inds Ltd share prices have been bracketed by a low of $1.81 and a high of $6.65 and are now at $1.90, 5% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has slid 1.5%.

Nabors Inds Ltd has overhead space with shares priced $1.90, or 80.1% below the average consensus analyst price target of $9.55. The stock should run into initial resistance at its 50-day moving average (MA) of $2.46 and subsequent resistance at its 200-day MA of $3.17.

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.

Keywords: pivot alerts nabors inds ltd

Ticker(s): NBR