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Schlumberger Ltd Falls 3.33% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

Schlumberger Ltd (NYSE:SLB) traded in a range yesterday that spanned from a low of $34.52 to a high of $35.37. Yesterday, the shares fell 3.3%, which took the trading range below the 3-day low of $35.91 on volume of 4.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Schlumberger Ltd and will alert subscribers who have SLB in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of Schlumberger Ltd have traded between a low of $30.65 and a high of $48.88 and are now at $35.11, which is 15% above that low price. The 200-day and 50-day moving averages have moved 0.21% lower and 0.14% lower over the past week, respectively.

Keywords: rebounders schlumberger ltd

Ticker(s): SLB