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Look for Shares of Schlumberger Ltd to Potentially Rebound after Yesterday's 3.33% Sell Off

By Amy Schwartz

Schlumberger Ltd (NYSE:SLB) traded in a range yesterday that spanned from a low of $34.52 to a high of $35.37. Yesterday, the shares fell 3.3%, which took the trading range below the 3-day low of $35.91 on volume of 4.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Schlumberger Ltd and will alert subscribers who have SLB in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, Schlumberger Ltd share prices have been bracketed by a low of $30.65 and a high of $48.88 and are now at $35.11, 15% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.

Keywords: rebounders schlumberger ltd

Ticker(s): SLB