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Schlumberger Limited

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SCL trade ideas

Is Schlumberger Done Slumbering?Schlumberger surged early last month. Now, after a period of consolidation, it may be ready to continue upward. The first pattern on today’s chart is the high-volume rally July 7-11. (This was part of a broad move across the energy sector as crude oil came off its lows.) SLB broke its early-March peak around $56, followed by successful retests under that level on July 21 and August 23. Old resistance could have morphed into new support. Second, notice how the more recent probe resulted in a bullish outside day. That may suggest the presence of lurking buyers. Third, the 50-day simple moving average (SMA) recently had a “golden cross” above the 200-day SMA. The shorter-term 8-day exponential moving average (EMA) is also above the 21-day EMA. Finally, the oil-service stock ended last week bouncing slightly above $56. It then proceeded to challenge a short-term falling trendline that’s taken shape since July 11. Is a breakout starting? TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:SLB
by TradeStation
SLB: Ascending Triangle, Not Confirmed (48.31%)(16/1000)(16/1000) Ascending Triangle for SLB. NOT Confirmed. Possible 48,31% gains. Pros: 1- Bullish Ascending triangle 2- Descending volume during formation 3- PPS above 50MA and 200MA 4- R/R ratio above 5 5- 250RSI above 50 and ascending 6- 50MA above 200MA 7- 50MA and 200MA ascending. 8- RS above 0 and ascending Cons: 1- ATR flat, less volatile 2- Pattern not confirmed 3- No break out yet Target price is 88.14$. Again, stay humble, have fun, make money! MAAX!
NYSE:SLBLong
by LeLaf
SLB is breaking out of a head and shoulders patternIn this chart I point to main chart pattern in the SLB prices at this moment, that is the head and shoulders. Not only that, but the prices are doing a breakout of this pattern, that I indicate step-by-step at the purple text in the chart. I am also trying to take some advantage of this movement, and so I bought a very short term put option to try catch some profit from an eventual falling in prices. The put information is in the gray text in the chart.
NYSE:SLBShort
by thessia_
2
Variety/Targets BelowA variety of patterns. Possible Bull Flag, possible cup and a large Rising Wedge that encompasses the trend on the recent chart. The rising wedge (bearish if broken) is not valid as the bottom trendline has not been broken and has acted as a support line. Price can break up from a wedge even if it is usually a short lived move. The flag has broken the top trendline but did not do so with a "bang". Targets if the wedge loses this battle are 57.12, 61.7. Targets 2 are 64.9 and 69. Most of oil is in a rising wedge or is sitting over a wedge so rising wedges are common in this industry right now. Yet they continue to rise and the bottom trendlines remain in tact for most. There will be a reckoning at some point though. )o: No recommendation
NYSE:SLB
by lauralea
1
Going long in Schlumberger SLBHello Traders Schlumberger SLB - NYSE. Broadening Wedges Ascending Trend : Upward. Formation : Broadening Wedges Formation (In Progress) Possibility : Bullish continuation Probability to hit tragedy: 69.00% Trade Plan. Long / Buy Trade. Entry Level above the red support line @ 46.17 Take Profit - Below the 4 hour support zone @ 61.50 Stop Loss at the support level red line @ 41.80 Trail Stop loss on support level as trade progresses. TP = Total PIPS in gain = 15.33 Profit 33.37% Total PIPS in Stop loss = 4.37 Loss 10.94% Regaards,
NYSE:SLBLong
by dilsnqamz