A Critical Moment For Nabors Industries Ltd. (NBR), Abbott Laboratories (ABT)

A look at its monthly performance shows that Nabors Industries Ltd. (NYSE:NBR) has recorded a 3.19% gain over the past 30 days. Over the past 12 months the stock has embarked on a drop that has seen it decline -55.44% and is now up by 45.5% since start of this year. The equity price sank -9.63% this week, a trend that has led to both investors and traders taking note of the stock. Its equity price dipped by -43.16% over the past three months which led to its overall six-month decrease to stand at -55.02%.

Experts from research firms are bullish about the near-term performance of Nabors Industries Ltd. with most of them predicting a $6.09 price target on a short-term (12 months) basis. The average price target by the analysts will see a 109.28% rise in the stock and would lead to NBR’s market cap to surge to $2.32B. The stock has been rated an average 2.1, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 25 analysts that track Nabors Industries Ltd. (NYSE:NBR) and find out that 8 of them rated it as a Hold. 17 of the 17 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.

A look at NBR technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 49.62 point. Its trading volume has lost -9452632 shares compared to readings over the past three months as it recently exchanged 8697368 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 18150000 shares, and this is 0.48 times the normal volume.

The price of Abbott Laboratories (NYSE:ABT) currently stands at $75.06 after it went up by $1.52 or 2.07% and has found a strong support at $74.11 a share. If the ABT price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $73.16 mark would also be bad for the stock as it means that the stock would plunge by 2.53% from its current position. However, if the stock price is able to trade above the resistance point around $75.62, then it could likely surge higher to try and break the upward resistance which stands at $76.18 a share. Its average daily volatility over the past one month stands at 1.87%. The stock has plunged by 95.05% from its 52-weeks high of $3.7172 which it reached on Dec. 02, 2019. In general, it is 24.31% above its 52-weeks lowest point which stands at $56.81 and this setback was observed on Mar. 05, 2018.

Analysts have predicted a price target for Abbott Laboratories (ABT) for 1 year and it stands at an average $80.08/share. This means that it would likely increase by 6.69% from its current position. The current price of the stock has been moving between $73.7172 and $75.23. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $70. On the other hand, one analyst is super bullish about the price, setting a target as high as $86.

The ABT stock Stochastic Oscillator (%D) is at 92.39%, which means that it is currently overbought and its prices could dip very soon. The shares P/S ratio stands at 4.32 which compares to the 6.18 recorded by the industry or the 9.79 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 20.86, which is lower than the 53.77 multiple of 12-month price-earnings (P/E). The company’s earnings have gone up, with a quarterly increase rate of 47.4% over the past five years.

Analysts view Abbott Laboratories (NYSE:ABT) as a Buy, with 1.9 consensus rating. Reuters surveyed 21 analysts that follow ABT and found that 2 of those analysts rated the stock as a Hold. The remaining 19 were divided, with 18 analyst rating it as a Buy or a Strong Buy while 1 analysts advised investors to desist from buying Abbott Laboratories (ABT) shares or sell it if they already own it.