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SmarTrend Watching for Potential Rebound in Shares of Schlumberger Ltd After 6.44% Loss

By Amy Schwartz

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.

Schlumberger Ltd share prices have moved between a 52-week high of $41.40 and a 52-week low of $11.87 and are now trading 33% above that low price at $15.84 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.3% while the 200-day MA has slid 1.1%.

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