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SmarTrend Watching for Potential Pullback in Shares of Schlumberger Ltd After 4.66% Gain

By Nick Russo

Schlumberger Ltd (NYSE:SLB) traded in a range yesterday that spanned from a low of $36.84 to a high of $40.30. Yesterday, the shares gained 4.7%, which took the trading range above the 3-day high of $38.83 on volume of 11.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Schlumberger Ltd have traded between a low of $31.03 and a high of $63.65 and are now at $38.96, which is 26% above that low price. The 200-day and 50-day moving averages have moved 0.63% lower and 0.63% lower over the past week, respectively.

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