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SmarTrend Watching for Potential Pullback in Shares of Schlumberger Ltd After 5.55% Gain

By James Quinn

Schlumberger Ltd (NYSE:SLB) traded in a range yesterday that spanned from a low of $14.37 to a high of $15.37. Yesterday, the shares gained 5.5%, which took the trading range above the 3-day high of $14.93 on volume of 11.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Schlumberger Ltd on January 21st, 2020 by issuing a Downtrend alert when the shares were trading at $37.31. Since that call, shares of Schlumberger Ltd have fallen 60.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Schlumberger Ltd has traded in a range of $11.87 to $48.88 and is now at $15.44, 30% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 5.1%.

Keywords: rebounders schlumberger ltd

Ticker(s): SLB