See how the Rectangle is playing out for SLB. View live chart.
Sideways movement between parallel supports.
Gradual reversal from bearish to bullish.
Bullish continuation if preceding move was up.
Bullish continuation pattern.
Reversal pattern. Price likely to break downwards.
Market participants tracking Schlumberger should note the latest formation. The stock is trading at $57.02, down 0.45% on the day. Price action has carved out a classic Bullish Flag. Volume is average (0.3x avg) with moderate trend strength (0.9). A potential breakout level is identified at $57.7, targeting $71.85 with support near $54.66 (R:R 4.65).
What is your outlook on SLB?