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Nabors Inds Ltd (NBR) Crosses Pivot Point Support at $6.04

By Nick Russo

Shares of Nabors Inds Ltd (NYSE:NBR) have bearishly opened below the pivot of $6.13 today and have reached the first support level of $6.04. Should the shares continue to fall, the support pivots of $5.96 and $5.79 will be of interest.

Potential upside of 58.4% exists for Nabors Inds Ltd, based on a current level of $6.03 and analysts' average consensus price target of $9.55. The stock should find initial resistance at its 50-day moving average (MA) of $6.20 and further resistance at its 200-day MA of $6.88.

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 $6.03, 13% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

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: pivot alerts nabors inds ltd

Ticker(s): NBR