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SmarTrend Watching for Potential Rebound in Shares of Schlumberger After 3.05% Loss

By Nick Russo

Schlumberger (NYSE:SLB) traded in a range yesterday that spanned from a low of $73.15 to a high of $74.91. Yesterday, the shares fell 3.0%, which took the trading range below the 3-day low of $76.13 on volume of 8.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Schlumberger on February 2nd, 2017 by issuing a Downtrend alert when the shares were trading at $82.59. Since that call, shares of Schlumberger have fallen 7.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Schlumberger have traded between a low of $59.60 and a high of $94.41 and are now at $74.32, which is 25% above that low price. The 200-day and 50-day moving averages have moved 0.19% lower and 0.43% higher over the past week, respectively.

Keywords: rebounders Schlumberger

Ticker(s): SLB