Tuesday, October 18, 2016

Nabors Industries - Chart of the Day

Nabor Industries (NBR) is the Barchart Chart of the Day.  The petroleum drilling company has a Trend Spotter buy signal, a Weighted Alpha of 47.00+ and gained 31.40% in the last 6 months.

The Chart of the Day belongs to Nabor Industries (NBR).   I found the petroleum drilling stock by using Barchart to sort the Russell 3000 Index stocks first for the most frequent number of new highs in the last month, ten again for technical buy signals  of 80% or more.  Since the Trend Spotter signaled a buy on 9/29 the stock gained 25.86%.

Nabors Industries, Inc. is one of the largest land drilling contractors. Nabors conducts oil, gas and geothermal land drilling operations in the U.S. and internationally. Nabors also is one of the largest land well-servicing and workover contractors in the United States. To further supplement its primary business, it offers a number of ancillary well-site services, including oilfield management, engineering, transportation, construction, maintenance, well logging and other support services, in selected domestic and international markets.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 36.73% in the last month
  • Relative Strength Index 68.32%
  • Technical support level at 12.71
  • Recently traded at 13.14 with a 50 day moving average of 10.75
Fundamental factor:
  • Market Cap $ 3.70 billion
  • Revenue expected to grow 10.20% next year
  • Earnings estimated to increase 21.50% next year
  • Wall Street analysts issued 14 strong buy, 3 hold and 1 sell recommendation on the stock

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