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Bullish Moving Average Cross by Schlumberger (SLB)

By James Quinn

Today, shares of Schlumberger (NYSE:SLB) have crossed bullishly above their 10-day moving average of $71.78 on a volume of 1.8 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Schlumberger share prices have been bracketed by a low of $59.60 and a high of $94.41 and are now at $72.00, 21% 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 13.5%. 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