$SLB 14 short$SLB and oil have taken a shit lately and it doens't look any good in the near term. i think we see $14 this week.
SLB trade ideas
SLB Ascending broadening wedgeHorrible performance in Q1 that is also expected to get even worse in Q2.
Dividends were cut by 75% yet the stock kept going up day after day as traders speculate the WH might come up with some sort of policy to give a face lift to some E&P operators and raise oil prices.
WTI May futures trades below 0 and JUNE futures below $20 but still SLB went up 10%????
Whatever the WH does and whatever the Fed does like buying junk bonds ETFs, service companies like SLB & HAL have WAY less JOBS to perform during this pandemic. This is probably going to send the stock to $10 soon whenever the speculation about WH action fades away.
Major operators with good balance sheets might survive but service companies won't be able to generate CASH FLOW without ACTUAL jobs.
Good luck!
$SLB Buyers jump into SchlumbergerPossible entry on break out from channel @ $38 with $48 upside very achievable.
the bottom may be in at last for this sector, this week has seen very nice volume and advances even as Oil prices have dropped and many downgrades have issued.
Average analysts price target $42.53 | Overweight
Company profile
Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Reservoir Characterization, Drilling, Production, Cameron and Elimination and other. The Reservoir Characterization Group segment consists of the principal technologies involved in finding and defining hydrocarbon resources. The Drilling Group segment includes the drilling and positioning of oil and gas wells such as bits and drilling tolls, drilling and measurement, land rigs and integrated drilling services. The Production Group segment provides technologies in the lifetime production of oil and gas reservoirs such as well services, completions, artificial lift, well intervention, water service, integrated production services and others. The Cameron Group segment consists of the pressure and flow control for drilling and intervention rigs, oil and gas wells and production facilities. The company was founded by Conrad Schlumberger and Marcel Schlumberger in 1926 and is headquartered in Houston, TX.
$SLB The bottom may be in Schlumberger Possible entry level @ $33 with $39 target price at major resistance.
Chart has formed a bullish bottom and volume has had a considerable increase.
RSI bullish as is MACD cross with Histogram ticking higher & green.
Average analysts price target $42.57 | Overweight
Company profile
Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Reservoir Characterization, Drilling, Production, Cameron and Elimination and other. The Reservoir Characterization Group segment consists of the principal technologies involved in finding and defining hydrocarbon resources. The Drilling Group segment includes the drilling and positioning of oil and gas wells such as bits and drilling tolls, drilling and measurement, land rigs and integrated drilling services. The Production Group segment provides technologies in the lifetime production of oil and gas reservoirs such as well services, completions, artificial lift, well intervention, water service, integrated production services and others. The Cameron Group segment consists of the pressure and flow control for drilling and intervention rigs, oil and gas wells and production facilities. The company was founded by Conrad Schlumberger and Marcel Schlumberger in 1926 and is headquartered in Houston.
