Nabors Industries (NBR) 12/4/2006

[Harry Aloof]

From Wall Street Trader's Column

Nabors Industries Inc (NBR) NYSE
Report No. 2200 Analysis by: Harry Aloof December 4, 2006

NABORS INDUSTRIES INC (NBR-NYSE): Technical Viewpoint: From a low of $27.26 on Oct 4, 2006 prices rallied, reaching a high of $32.94 on Nov 9, 2006. A decline saw prices pull back, reaching a low of $29.75 on Nov 17, 2006. Another rally saw prices penetrate resistance line "A", closing 12/1/06 at $34.57. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Nov 23, 2006 when the Histogram crossed the "0" line to the upside. Support: Remains at $32.00. Resistance: Is at $36.04. Point & Figure: Reversed to the upside on Oct 10, 2006. A P&F downside reversal takes place at $31.00. Summary: Technical indicators have turned bullish. BUY! NABORS INDUSTRIES INC (NBR-NYSE) @ $34.63 Stop: Use a protective stop of $32.63. NABORS INDUSTRIES INC is currently trading @ $34.57 plus $0.81 on Dec 1, 2006.

Price Objective: $45.00.
Risk/Reward: $2.00 VS. $12.37.
Today's Risk Reward Ratio: 6:1