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After Yesterday's Rally of 1.01% Shares Could Potentially Pullback

By Amy Schwartz

Schlumberger Ltd (NYSE:SLB) traded in a range yesterday that spanned from a low of $65.90 to a high of $66.96. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $66.86 on volume of 2.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Schlumberger Ltd share prices have been bracketed by a low of $61.02 and a high of $87.84 and are now at $66.83, 10% above that low price. The 200-day and 50-day moving averages have moved 0.19% lower and 0.43% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Schlumberger Ltd on January 31st, 2018 by issuing a Downtrend alert when the shares were trading at $74.03. Since that call, shares of Schlumberger Ltd have fallen 10.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders schlumberger ltd

Ticker(s): SLB