Are Technical Indicators Looking Better For Denbury Resources Inc. (DNR), Nabors Industries Ltd. (NBR)

Denbury Resources Inc. (NYSE:DNR) traded at an unexpectedly high level on 11/1/2017 when the stock experienced a 2.44% gain to a closing price of $1.26. The company saw 6.76 million shares trade hands over the course of the day. Given that its average daily volume over the 30 days has been 6.32 million shares a day, this signifies a pretty significant change over the norm.

Denbury Resources Inc. (DNR) Analyst Gushes

Analysts are speculating a 118.25% move, based on the high target price ($2.75) for the shares that is set to reach in the next 12 months. The analysts, on average, are forecasting a $1.53 price target, but the stock is already up 37.74% from its recent lows. However, the stock is trading at -70.63% versus recent highs ($ 4.29). Analysts believe that we could see stock price minimum in the $0.5 range (lowest target price), allowing for another -60.32% drop from its current position. Leading up to this report, we have seen a -13.7% fall in the stock price over the last 30 days and a -3.08% decline over the past 3 months. Overall, the share price is down -65.76% so far this year. Additionally, DNR had a day price range of $1.23 to $1.3.

Denbury Resources Inc. (DNR) Price Potential

Heading into the stock price potential, Denbury Resources Inc. needs to grow just 11.11% to cross its median price target of $1.4. In order to determine directional movement, the 50-day and 200-day moving averages for Denbury Resources Inc. (NYSE:DNR) are $1.25 and $1.48. Given that liquidity is king in short-term, DNR is a stock with 381.84 million shares outstanding that normally trades 16.26% of its float. The stock price recently experienced a 5-day gain of 17.76% with 0.09 average true range (ATR). DNR has a beta of 3.43 and RSI is 56.2.

Nabors Industries Ltd. (NYSE:NBR)’s Lead Over its Technicals

On the other hand, Nabors Industries Ltd. by far traveled 8.46% versus a 1-year low price of $5.32. The share price was last seen 2.49% higher, reaching at $5.77 on the first day of November. At recent session, the prices were hovering between $5.6 and $5.98. This company shares are 62.22% off its target price of $9.36 and the current market capitalization stands at $1.82B. The recent change has given its price a -18.99% deficit over SMA 50 and -68.64% deficit over its 52-week high. The stock witnessed -26.03% declines, -22.65% declines and -39.14% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found NBR’s volatility during a week at 6.98% and during a month it has been found around 5.27%.

Nabors Industries Ltd. (NYSE:NBR) Intraday Metrics

Nabors Industries Ltd. (NBR) exchanged hands at an unexpectedly low level of 12.15 million shares over the course of the day. Noting its average daily volume at 9.77 million shares each day over the month, this signifies a pretty significant change over the norm.

Nabors Industries Ltd. Target Levels

The market experts are predicting a 125.3% rally, based on the high target price ($13) for Nabors Industries Ltd. shares that is likely to be hit in the 52 weeks. Analysts anticipate that traders could see stock price minimum in the $6 range (lowest target price). If faced, it would be a 3.99% jump from its current position. Overall, the share price is down -64.82% year to date.

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