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Nabors Inds Ltd Set to Possibly Pullback After Yesterday's Rally of 3.01%

By Shiri Gupta

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.

Over the past year, Nabors Inds Ltd has traded in a range of $5.32 to $18.40 and is now at $8.34, 57% above that low. 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