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Watch for Shares of Schlumberger (SLB) to Approach Support at $79.00

By David Diaz

Shares of Schlumberger (NYSE:SLB) opened today below their pivot of $79.77 and have already reached the first level of support at $79.27. Analysts will be watching for a cross of the next downside pivot targets of $79.00 and $78.23.

Over the past year, Schlumbergerhas traded in a range of $0.00 to $94.41 and are now at $0.00. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.4%.

Schlumberger (NYSE:SLB) has potential upside of 0.0% based on a current price of $0.00 and analysts' consensus price target of $97.71. The stock should find initial resistance at its 200-day moving average (MA) of $74.48 and further resistance at its 50-day MA of $75.25.

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 3.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts Schlumberger

Ticker(s): SLB