Winning Stock Forecast: NBR, UAL, SPR Bounced Hard in 14 Days
Nabors Industries Ltd. Soared 123.05%
On May 22, I Know First issued a 14-days winning stock forecast for NBR with the strong bullish signal of 50.50 and the predictability of 0.36. Two weeks later, NBR stock rose from $29.42 to $65.62. This 123.05% surge is in line with our forecast.
There’s no doubt NBR is a winning stock in the oil sector for the past 2 weeks, the momentum remained strong especially as last week NBR soared by 108.53%. It all started with a share price target upgrade of an analyst. Scott Gruber, an analyst at Citigroup, significantly lifted his price target for Nabors to $35 per share last week, which was more than double the prior $15.50 target. He argued that steps to preserve liquidity and cut costs as being key reasons for the price upgrade. Looking back now, the price has surged much higher than his target, but the initial rationale behind holds up.
United Airlines Holdings Inc. Witnessed 64.11% Increase
In the same forecast, I Know First also presented a normal bullish 14-day stock forecast for UAL. The forecast showed a signal of 2.37 and a predictability of 0.41, following which UAL stock achieved a 64.11% increase from $25.84 to $42.41.
Airlines industry is definitely a big winner in the market last week. As an industry taking the biggest hit in the Covid-19 closedown, the S&P 500 airlines industry was up 34.6% in last week. This short-term stock rebound was largely attributed to the investor sentiment. After the US said it would allow two flights a week in and out of the country from Chinese passenger airlines after Beijing backed down and reopened for American passenger carriers, the market gained its confidence in airlines industry very quickly. “We believe the worst is behind us, and we’re on the uptick,” American Airlines Group Inc.’s boss, Doug Parker, said after a surge in travel over the U.S. Memorial Day holiday weekend, which has drawn investors’ attention. However, after this rally, the long-term outlook for air travel may remain dismal.
Spirit AeroSystems Holdings Inc. Went Up By 63.48%
SPR is right behind UAL’s increase. 14-days ago I Know First predicted a moderate bullish outlook for SPR with a signal of 1.33 and a predictability of 0.44. The stock price of this xx company rise to $33.71 from $20.62in 2 weeks, increasing by 63.48%.
Spirit AeroSystems, the supplier of Boeing (BA), rose together with the strong bounce of BA. The reason why Boeing stock was up also explains why Spirit AeroSystems was up. Similar to the rationale for UAL above, the airlines industry as a whole is boosted by the investor confidence. Despite the challenges of the pandemic and malfunction of 737 Max, Boeing company still received some good news recently. For one, Aircraft lessor SMBC deferred but not cancelled its delivery of 68 737 Max jets until 2025. For another, German travel company TUI Group decided to proceed its orders from Boeing.
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Disclaimer
Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.
