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Schlumberger Ltd Falls 6.44% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

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.

Over the past year, Schlumberger Ltdhas traded in a range of $32.38 to $66.04 and are now at $32.38. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.7%.

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.

Keywords: rebounders schlumberger ltd

Ticker(s): SLB