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Look for Shares of Schlumberger Ltd to Potentially Rebound after Yesterday's 6.44% Sell Off

By Nick Russo

Schlumberger Ltd (NYSE:SLB) traded in a range yesterday that spanned from a low of $32.35 to a high of $33.85. Yesterday, the shares fell 6.4%, which took the trading range below the 3-day low of $34.02 on volume of 6.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Schlumberger Ltd. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Schlumberger Ltd in search of a potential trend change.

In the past 52 weeks, shares of Schlumberger Ltd have traded between the current low of $32.38 and a high of $66.04 and are now at $32.38. The 200-day and 50-day moving averages have moved 0.73% lower and 0.1% lower over the past week, respectively.

Keywords: rebounders schlumberger ltd

Ticker(s): SLB