Nabors Industries Ltd Trade NBR

 

NBR has returned to its Mean and may be a good long candidate.  After testing the mean and bouncing back NBR may be worth entering here.

 

We tried for an entry on 5/24 after seeing NBR lift off.  Since it was above the R2 line using the PivotPoints study we decided to wait for a pull back to at least R1.  R1 is at 26.86 so a limit order at 26.90-26.92 wouldn’t be a bad place to get in.  Around 10:55 our order to enter the position was filled.  We’ve let this one run for a few days now and it is up over .72  The exit target would be in the 32.00-33.00 range Taking half off the table at the first regression channel at around 29.50 might not be a bad strategy as well. 

 

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