jangseohee

Schlumberger doesn't slump cont'd

NYSE:SLB   SCHLUMBERGER LTD
75 1 2
On a daily chart , the price is flowing down in the smooth thin downtrend channel . And it seems to have found
support temporarily. Besides, the distribution volume at the blue channel top seems to have been offset by the accumulation volume!

If there is another leg of sell-off which i label-Path 1, the next potential target price could be about 75 depending on how price movement develops.
If the price finally break out of this downtrend channel , then path 2 would be different story.

Look out for the RSI downtrend line!

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jangseohee
2 years ago
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