Nabors Industries NBR was oversold, yet is starting to turn back around. If this bounce carries through targets are 7% higher from here at 7.13 based on prior structure.
Long NBR I bought at $8.12 target ? Not sure. Comments welcome on target please. This is NOT trading advice. Do not rely on charts or comments to make a trade. No endorsement made or implied. NYSE:NBR
We all can say this is down trend, but I'm seeing several reversal structures(bullish): 3 drives low, head and shoulders, and double bottom. As for the bearish side I'm seeing a nice flag forming.
NYSE:NBR $NBR looking like it could be reversing the long downtrend it has had over the past nine months. Day chart looks promising to start some small positions. Good Luck
08.05.17 Signal of a potential bottom from my dBFIr on DAILY chart Awaiting confirmation
26.04.17 Signal of a potential bottom from my dBFI on weekly chart Awaiting confirmation
OK SO HERE WE HAVE A DECENT LOOKING TRADE - GRANTED THIS ISN'T THE BIGGEST TRADE IN THE WORLD THOUGH JUST A COUPLE OF POINTS TO CONSIDER LOOKING AT THIS CHART WE CAN SEE THAT A STRONG AREA OF RESISTANCE HAS JUST TURNED SUPPORT PRICE HAS CROSSED THE MOVING AVERAGES AND THE MOMENTUM NOW LOOKS BULLISH TRADING ABOVE THE 50,100,200 MA SO WHAT ABOUT FIBONACCI ?...
$NBR Nabors looking strong with #3 Excess Demand calculated yesterday (see side legend). Run looks good into earnings.
Therefore, I see no reason to continue falling.
Not to much explanation to be done here. I believe this stock is going to 30$ again. Tops don't form that easily, there are many retests. Histogram is going up and impulse is green.
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...