NYSE:SLB may be ready to breakout.

SCHLUMBERGER LTD (NYSE:SLB) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:SLB.

Technical analysis of NYSE:SLB

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, SLB scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, SLB has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that SLB is one of the better performing stocks in the market, outperforming 95% of all stocks.
• SLB is one of the better performing stocks in the Energy Equipment & Services industry, it outperforms 72% of 67 stocks in the same industry.
• SLB is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so SLB is lagging the market slightly.
• SLB is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

Our latest full technical report of SLB contains the most current technical analsysis.

Looking at the Setup

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:SLB has a 9 as its setup rating:

SLB has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 58.29. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 56.00, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for SLB in the last couple of days, which is a good sign.

How can NYSE:SLB be traded?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.