Schlumberger $SLB Technical Update
The Schlumberger (NYSE: SLB) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for SLB, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Review the Trading Plans:
Long Term Trading Plans for SLB
October 12, 2018, 8:45 am ET
The Technical Summary and Trading Plans for SLB help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this SLB Report.
SLB - (Long) Support Plan
Buy over 56.97 target 63.14 stop loss @ 56.71.
The technical summary data tells us to buy SLB near 56.97 with an upside target of 63.14. This data also tells us to set a stop loss @ 56.71 to protect against excessive loss in case the stock begins to move against the trade. 56.97 is the first level of support below 59.34 , and by rule, any test of support is a buy signal. In this case, support 56.97 would be being tested, so a buy signal would exist.
SLB - (Short) Resistance Plan
Short under 63.14 target 56.97 stop loss @ 63.4.
The technical summary data is suggesting a short of SLB as it gets near 63.14 with a downside target of 56.97. We should have a stop loss in place at 63.4 though. 63.14 is the first level of resistance above 59.34, and by rule, any test of resistance is a short signal. In this case, if resistance 63.14 is being tested, so a short signal would exist.