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Advanced TA SearchArchive - 3/22/2024 - Sign In to see current Signals. |
Schlumberger Ltd. (SLB) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a sixth consecutive positive week for the Schlumberger Ltd. (SLB). During the week, the SLB gained 1.12 points, or 2.12%, and closed at 53.99 on Friday, March 22, 2024. Weekly volume was -27% below average. SLB is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See SLB long-term trend chart] A long-term uptrend had started on March 19, 2020 at 11.87 and reached 62.78 on January 24, 2023. SLB gained -50.91 points, or -428.90%, in 148 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 50.55 and resistance is at 61.57. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend. Medium-term trend: [See SLB medium-term trend chart] A medium-term downtrend had started on September 12, 2023 at 62.12 and reached 46.91 on February 9, 2024. SLB lost 15.21 points, or 24.48%, in 21 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (46.01) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. SLB may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend. Weekly Technical Indicators: [See SLB weekly technical indicators chart] Weekly technical indicators are neutral. During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help. Short-term trend: [See SLB short-term trend chart] A short-term uptrend had started on February 28, 2024 at 47.95 and reached 55.08 on March 22, 2024. SLB gained -7.13 points, or -14.87%, in 23 days. The price is now at the 15.29% retracement level. Daily Technical Indicators: [See SLB daily technical indicators chart] Daily Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help. The daily MACD line is above its signal line since February 15, 2024. This is an indication that the short-term trend is up. A Parabolic SAR (stop and reversal) indicator (53.53) comes close to the price (53.99). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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