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After Yesterday's Rally of 1.86% Shares Could Potentially Pullback

By Nick Russo

Schlumberger Ltd (NYSE:SLB) traded in a range yesterday that spanned from a low of $63.35 to a high of $64.72. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $63.92 on volume of 2.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Schlumberger Ltd share prices have moved between a 52-week high of $87.84 and a 52-week low of $62.56 and are now trading 3% above that low price at $64.63 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Schlumberger Ltd on August 8th, 2017 by issuing a Downtrend alert when the shares were trading at $65.95. Since that call, shares of Schlumberger Ltd have fallen 3.9%. 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