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Schlumberger Ltd Crosses Above its 10-day MA (SLB)

By Shiri Gupta

Schlumberger Ltd (NYSE:SLB) shares have crossed bullishly above their 10-day moving average of $14.06 on a volume of 5.6 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Schlumberger Ltd have traded between a low of $11.87 and a high of $48.88 and are now at $14.60, which is 23% above that low price. The 200-day and 50-day moving averages have moved 0.92% lower and 5.13% lower over the past week, respectively.

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.

Keywords: moving crosses schlumberger ltd

Ticker(s): SLB