Do Traders View Nabors Industries Ltd. (NBR) Stock's Current Trend Positively?

Wednesday, July 22, 2020 10:21 AM | InvestorsObserver Analysts

The market has been high on Nabors Industries Ltd. (NBR) stock recently. NBR gets a Bullish score from InvestorsObserver's Stock Sentiment Indicator.

Sentiment Score - ,bullish
Nabors Industries Ltd. has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on NBR!

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.

As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.

Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.

InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.

The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With NBR Stock Today?

Nabors Industries Ltd. (NBR) stock is down -5.14% while the S&P 500 is up 0.17% as of 10:19 AM on Wednesday, Jul 22. NBR has fallen -$2.01 from the previous closing price of $39.10 on volume of 198,570 shares. Over the past year the S&P 500 has gained 9.12% while NBR has fallen -68.70%. NBR lost -$143.96 per share in the over the last 12 months.

To see InvestorsObserver's Sentiment Score for Nabors Industries Ltd. click here.

More About Nabors Industries Ltd.

Nabors is one of the world's largest land rig drilling contractors. The company has more than 500 land rigs, more than 600 land workover rigs, and numerous offshore rigs that drill for oil and natural gas globally. The company derives about 75% of its revenue from North America. In addition, Nabors provides well servicing, engineering, transportation, and other services for oil and gas producers.

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