Sep 13, 2019 (Stock Traders Daily via COMTEX) -- The Schlumberger (NYS: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.
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.
The technical summary data tells us to buy SLB near 35.47 with an upside target of 41.97. This data also tells us to set a stop loss @ 35.21 to protect against excessive loss in case the stock begins to move against the trade. 35.47 is the first level of support below 37.33 , and by rule, any test of support is a buy signal. In this case, support 35.47 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of SLB as it gets near 41.97 with a downside target of 35.47. We should have a stop loss in place at 42.23 though. 41.97 is the first level of resistance above 37.33, and by rule, any test of resistance is a short signal. In this case, if resistance 41.97 is being tested, a short signal would exist.