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Schlumberger Ltd (SLB) Approaches New Upside Target of $47.95

By Nick Russo

Shares of Schlumberger Ltd (NYSE:SLB) opened today above their pivot of $47.18 and have already reached the first level of resistance at $47.64. Analysts will be watching for a cross of the next upside pivot targets of $47.95 and $48.72.

Over the past year, Schlumberger Ltd has traded in a range of $34.99 to $75.43 and is now at $47.85, 37% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 0.6%.

There is potential upside of 67.7% for shares of Schlumberger Ltd based on a current price of $47.85 and an average consensus analyst price target of $80.27. The stock should hit resistance at its 200-day moving average (MA) of $52.06, as well as support at its 50-day MA of $44.16.

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: pivot alerts schlumberger ltd

Ticker(s): SLB