Schlumberger stock price forecast: Bullish trend persists as SLB posts 3.05% daily surge

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Schlumberger rises 3.05% to $51.86 today

Highlights

SLB is trading at $51.86, well above its MA-20 ($48.79), MA-50 ($43.17), and MA-200 ($36.89), confirming broad bullish momentum.
Momentum indicators including MACD, ADX, and high RSI levels signal sustained buying pressure, though short-term overbought risk is elevated.
Key support levels are at the Ichimoku Kijun ($46.91) and MA-50 ($43.17), with an expected five-session trading range of $50.80–$53.80 and strong upside probability.

Overbought risk rises as bullish momentum accelerates

Momentum indicators remain strongly bullish, with both MACD and ADX signaling sustained buying pressure. RSI readings on both the D1 and W1 are in the high-60s and mid-70s, suggesting strong momentum but raising the risk of short-term overbought conditions, a view echoed by the Stochastic RSI (deeply oversold on D1) and CCI (overbought on multiple timeframes). Bull/Bear Power shows buyers are clearly dominant intraday, supporting continued upward price action. The Awesome Oscillator is neutral and does not reinforce the short-term trend. Today’s price action posts a $1.54 (3.05%) gain with an upside gap on the open and trading near the high of today’s range, pointing to high volatility and significant strength toward session highs.

Upside scenario favored as weekly momentum fuels consolidation

For the next five sessions, the expected range is $50.80 – $53.80, adjusted to reflect typical weekly volatility around current levels. There is a very high probability (more than 80%) of a continued increase in price, with a decline less likely, based on strong bullish signals from all key weekly momentum and trend indicators. Baseline scenario: price consolidates between support and resistance. Bullish scenario: a close above $53.80 could trigger further upside, while a drop below the $50.80 support would expose SLB to short-term correction.

Anton Kharitonov, expert at Traders Union, sees strong technical momentum in SLB, with price action well above major moving averages and bullish indicators dominating. However, he notes overbought signals on several oscillators and highlights that short-term risk of a pullback remains elevated. The analyst remains cautious, watching the $50.80 support as a key level for downside risk. "Until $50.80 is breached decisively, my base case remains consolidation with a defensive stance."

Last time, analysts noted that Schlumberger NV (SLB) was trading firmly above its major moving averages and Ichimoku support, signaling ongoing bullish momentum across timeframes, with near-term resistance identified around the $52 level. However, while daily MACD and ADX remain strong, mixed oscillator signals—such as RSI and CCI nearing overbought territory and a divergent Stoch RSI—suggest short-term caution amid elevated volatility.

Source of Data: SLB Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.