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Bearish Moving Average Cross by Schlumberger (SLB)

By David Diaz

Today, shares of Schlumberger (NYSE:SLB) have crossed bearishly below their 10-day moving average of $69.18 on a volume of 1.1 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Schlumberger have traded between a low of $59.60 and a high of $94.41 and are now at $68.54, which is 15% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Schlumberger on February 2nd, 2017 by issuing a Downtrend alert when the shares were trading at $82.59. Since that call, shares of Schlumberger have fallen 16.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Schlumberger

Ticker(s): SLB