Schlumberger stock drops with price remaining stuck below key averages

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Schlumberger slides 3.54% to $54.55

Highlights

SLB/USD faces sustained short- and medium-term selling pressure, trading below key moving averages on the hourly chart.
Momentum and oscillator signals are predominantly bearish with pronounced oversold conditions and sellers maintaining intraday control.
Price is expected to trade between $52.93 and $56.17 over the next 2–3 days, with a high probability of further downside unless resistance at $56.31 is decisively broken.

Bearish momentum builds as intraday sellers and resistance converge

On the technical front, SLB/USD is trading below its MA-20 and MA-50 on the hourly chart, while remaining above the daily MA-200. The Ichimoku Kijun line stands at $56.31 as immediate resistance. Momentum indicators show the MACD signaling a Sell, ADX is neutral, and the RSI is at 38.87, which is interpreted as a Sell signal. CCI and BBP both indicate oversold conditions, while the Stoch RSI remains neutral. The Awesome Oscillator does not provide further direction, and sellers maintain clear dominance intraday according to BBP, with some divergence due to a lack of confirmation from Stoch RSI.

Downside risk increases as volatility band narrows below resistance

Over the next 2–3 trading days, the typical volatility band for SLB is likely to fall between $52.93 and $56.17. There is a high probability of further downside within this range, while a rebound appears unlikely in the immediate term. A bullish reversal would require a decisive break above the $56.31 resistance; conversely, a move below $52.93 would likely intensify the bearish scenario.

Anton Kharitonov, analyst at Traders Union, notes that Schlumberger NV (SLB) is under technical pressure after the recent 3.54% drop, with sellers dominating intraday action. He sees price action below key short- and medium-term moving averages as a clear sign of caution, especially given the lack of supporting momentum from several indicators. Kharitonov believes a decisive move below $52.93 would confirm further weakness, while a rebound remains unlikely unless $56.31 is reclaimed. "Until buyers regain control above $56.31, I remain defensive and expect more downside risk in the short term."

Earlier, analysts noted that Schlumberger was exhibiting resilient bullish momentum supported by favorable technical trends. The current pullback shifts the short-term outlook to bearish, making the $52.93 support level crucial; a break below this threshold may accelerate downside pressure in the near term.

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.