After a very nice rally, Nabors Industries
has 2 very ugly bearish
divergences, on the MACD
lines, on the Histogram and on the FI
. Two days ago there was a false breakout over the last swing high, but the price couldn't stay there, and a gravestone doji
was drawn. Yesterday was a bad day for this stock, and an evening star
(without a star) pattern emerged. I have 3 targets for this trade. I do not want to stay in it for the long term, because there was a very nice rally these last weeks so I expect only a correction. The trade plan is labeled on the chart.