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Upgrade Alert for Schlumberger (SLB)

By David Diaz

Schlumberger (NYSE:SLB) was upgraded from Sell to Neutral at Griffen Securities today. The stock closed yesterday at $74.26 on volume of 7.3 million shares, below average daily volume of 8.5 million.

Schlumberger share prices have moved between a 52-week high of $94.41 and a 52-week low of $59.60 and closed yesterday at 25% above that low price at $74.26 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.4%.

There is potential upside of 23.3% for shares of Schlumberger based on a current price of $74.26 and an average consensus analyst price target of $91.57. The stock should run into initial resistance at its 200-day moving average (MA) of $74.48 and subsequent resistance at its 50-day MA of $75.25.

Schlumberger Limited is an oil services company. The Company, through its subsidiaries, provides a wide range of services, including technology, project management and information solutions to the international petroleum industry as well as advanced acquisition and data processing surveys.

SmarTrend is monitoring the recent change of momentum in Schlumberger. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Schlumberger in search of a potential trend change.

Keywords: analyst upgrades/downgrades Schlumberger

Ticker(s): SLB