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Look for Shares of Schlumberger Ltd to Potentially Rebound after Yesterday's 4.23% Sell Off

By Shiri Gupta

Schlumberger Ltd (NYSE:SLB) traded in a range yesterday that spanned from a low of $41.87 to a high of $42.98. Yesterday, the shares fell 4.2%, which took the trading range below the 3-day low of $44.02 on volume of 7.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Schlumberger Ltd on May 25th, 2018 by issuing a Downtrend alert when the shares were trading at $68.97. Since that call, shares of Schlumberger Ltd have fallen 36.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Schlumberger Ltd share prices have moved between a 52-week high of $80.35 and the current low of $41.87 and are currently at $42.26 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1.8%.

Keywords: rebounders schlumberger ltd

Ticker(s): SLB