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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Schlumberger Ltd. (SLB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a eighth consecutive positive week for the Schlumberger Ltd. (SLB). During the week, the SLB climbed 0.22 points, or 0.40%, and closed at 55.03 on Friday, April 5, 2024. Weekly volume was 23% above 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 50.90 and resistance is at 61.53. 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 (45.76) is broken. A broken support is considered to be a long-term bullish signal. 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 Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since March 15, 2024. 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 April 2, 2024 at 53.18 and reached 55.35 on April 3, 2024. SLB gained -2.17 points, or -4.08%, in 1 days. The price is now at the 14.75% retracement level.
 Daily Technical Indicators: [See SLB daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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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