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Nabors Industries (NBR) Breaks Through Support at $8.11

By Amy Schwartz

Nabors Industries (NYSE:NBR) has opened bearishly below the pivot of $8.27 today and has reached the first level of support at $8.11. Investors may be interested in a cross of the next downside pivot targets of $7.96 and $7.65.

Over the past year, Nabors Industrieshas traded in a range of $0.00 to $18.40 and are now at $0.00. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.8%.

There is potential upside of 0.0% for shares of Nabors Industries based on a current price of $0.00 and an average consensus analyst price target of $19.87. The stock should find initial resistance at its 50-day moving average (MA) of $9.03 and further resistance at its 200-day MA of $9.28.

SmarTrend recommended that its subscribers protect gains by selling shares of Nabors Industries on February 7th, 2017 by issuing a Downtrend alert when the shares were trading at $15.63. Since that call, shares of Nabors Industries have fallen 47.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts Nabors Industries

Ticker(s): NBR