Nabors Industries (NBR) conducts oil, gas and geothermal land drilling operations in the U.S., Alaska, Canada, South America, Mexico, the Caribbean, the Middle East, the Far East, Russia and Africa. This stock is trading up 4.3% at $15.55 in recent trading.
Today's Volume: 4.83 millionAverage Volume: 5.14 million Volume % Change: 51% From a technical perspective, NBR is spiking higher right above some near-term support at $14.49 and back above its 200-day moving average of $14.94 with decent upside volume. This move is quickly pushing shares of NBR within range of triggering a near-term breakout trade, which will hit if NBR manages to take out its 50-day moving average at $16.37 and then once it clears more overhead resistance at $16.34 with high volume. Traders should now look for long-biased trades in NBR as long as it's trending above $14.49 or above its 200-day at $14.94, and then once it sustains a move or close above those breakout levels with volume that hits near or above 5.14 million shares. If that breakout triggers soon, then NBR will set up to re-test or possibly take out its next major overhead resistance levels at $17.28 to $18.24. To see more stocks rising on unusual volume, check out the Stocks Rising On Unusual Volume portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
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