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Look for Shares of Schlumberger Ltd to Potentially Rebound after Yesterday's 6.44% Sell Off

By Nick Russo

Schlumberger Ltd (NYSE:SLB) traded in a range yesterday that spanned from a low of $15.97 to a high of $16.96. Yesterday, the shares fell 6.4%, which took the trading range below the 3-day low of $17.09 on volume of 7.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Schlumberger Ltd has traded in a range of $11.87 to $41.40 and is now at $15.84, 33% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 3.3%.

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.

Keywords: rebounders schlumberger ltd

Ticker(s): SLB