SLB to bounce or to break. Possibly to bounceThe price bounces between resistance and support, and there is a likeliness of the price to bounce once more before making a big move.
SLBG34 trade ideas
shortLooking for continued shorting. Broke back into long term down trend and filled gap which is now resistance. High chance that this continues to the downside
Schlumberger update inverse H&SMarket cap in S&P500 is 52.22B. Company supplies technology for drilling, production and processing in oil and gas industry.
Major banks and investment funds expect the price to go back above the $50 level. As many oil and gas companies, this stock had a bad year after the sell off in oil at the end of 2018. Now as oil seems to be recovering and uncertainty in Middle East puts supply into question, this stock could bounce.
On the technical side price reached a weekly trend line (see in the comments). Daily chart shows a potential inverse head and shoulders pattern forming. Divergence on indicators is present. Another pullback from the 200SMA before we spike. That would offer the best risk-reward trade. Increase in volume on spike to the upside would be first confirmation, then of course the break of red resistance zone and 200SMA.
Good Luck!
Schlumberger surges despite downgrade. The energy sector is a major benefactor from the rotation out of tech in recent days, as optimism over trade and dwindling recession fears has put the spotlight on this beaten down energy sector. Our bullish bias on SLB is confirmed by the fact it was able to shrug of a downgrade and post a gain for the day on Monday.
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.
Long at 32-33Not confirmed abt 45+ long term but 40+ sure confirmed game. Let RSI move down lit bit more and touch yellow line. Then go long
$SLB earnings beat fails to impress investorsDespite naming a new CEO and a consistent earnings beat the selling continues as the bears remain in full control. Technically the chart is bearish and sentiment in the sector shows no signs of improvement.
NYSE:SLB met expectations for 35 cents per share in its Q2 earnings report, while $8.27 billion in revenues beat estimates by 1.9%. Like with AmEx, Schlumberger has now posted a positive surprise in three of the last four quarters.
AVERAGE ANALYSTS PRICE TARGET $48
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 50
SHORT INTEREST 11%
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
SLB Update Pullback Bullish overall!!!The green lines are support the Red lines are resistance but overal the arrow shows the trend. Remember I am not a financial advisor.
SLB: The long term wave 4 appears done.Wave 5 could be a 1.272, 1.414, or 1.618 extension of wave 1+3. See enlarged daily chart in comment section.
$SLB UPGRADE FROM HOLD TO BUY FOR SCHLUMBERGERSeems like a highly unusual upgrade as the stock is teetering on the edge of another decline as support is tested. The Stifel analysts Stephen Gengaro has based his price target on the free cash floe generation, and thinks that it has a very compelling risk/reward for investors at these levels. He also reminds investors of the safe $2.00 dividend and that you get paid to wait, but for how long?, the stock is sitting on a support level that if it fails there is nothing below to stop the decline, there may be a good opportunity for a trade in the days to come on the long or short side.
AVERAGE ANALYSTS PRICE TARGET $51
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 24
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
slb may not has hit the bottomdoesn't look like this is a double bottom.
if it does not. the downside target is low 20 even 14.
SCHLUMBERGER ; reprise de l'image plus largeAprès un temps de range/hausse, schlumberger reprend la baisse.
Ce qui vient reprendre l'image en weekly/monthly. Assez intéressant dans le contexte global. Les plus faibles courent à la perte.
SLB: Sort opportunityAn intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Trade 1Hello, I am new to publishing but have been trading for a while. I plan to post a few trades a month which usually run for 3-6weeks (if they're winners). Its worth noting my stop is a mental stop but I use strict risk management (1.5%). I will comment when I have closed the trade. Also, I do not use any indicators and only trade US Stocks.
Many thanks.
№1 Oil stock to buy and hold for long-term?Everything is perfectly shown on the chart. The company has quite good fundamental indicators, really good and stable dividends. I think that now is a great technical situation to buy this stock for long-term run.
SLB to fallThe SLB might face a little drop to close the market gap and also as we just saw it broke the triangle that just recently been retested!!!
Schlumberger Key Battle, Breakout or Breakdown???On the Hourly chart SLB is in a short term bull trend (White Diagonal Line), meeting the long term downtrend resistance (Red Diagonal Line). Although WTI seems to be on an uptrend, it does not look like it may have a positive correlation for price for SLB in terms of a swing trade.
Beatish Sentiment:
The RSI has shown oversold and the SMII is down trending, which points to a most probable scenario of a breakdown in the short term swing trade. Should price breakdown below the diagonal white line and below the 100 EMA, an opportunity to enter a short is on the table. The red horizontal lines are support/resistance for price should there be a breakdown.
Bullish Sentiment:
If the price makes a clear break above the long term diagonal red line, then this could be an opportunity to enter a long trade on the breakout.
Eyes will be on SLB for the next 2 days, to see which direction it will take.
Happy Trading :0)
This is not advice to buy or sell, it is only meant for educational perspective.
