vlad.adrian

Nabors Industries - Double bearish divergence

Short
NYSE:NBR   Nabors Industries Ltd.
2
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.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.