-3.22% for Schlumberger stock as sellers push towards $53.27 support

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Schlumberger slides 3.22% today

Highlights

SLB/USD remains under persistent selling pressure as it trades below key short- and medium-term moving averages.
Bearish momentum dominates, with multiple technical indicators confirming oversold conditions and strong seller control.
Near-term price action is expected within $53.27 to $55.47, with very high probability of further downside barring a breakout above immediate resistance.

Momentum signals reinforce downside as technical barriers strengthen

On the hourly chart, SLB trades below the MA-20 ($55.88) and MA-50 ($56.14), both confirming short- and medium-term selling pressure. The daily chart shows persistent long-term support above the MA-200 at $44.58, while the Ichimoku Kijun level at $55.46 presents immediate resistance. Momentum signals reinforce this technical picture: the MACD shows a sell signal, ADX remains neutral, and the RSI is oversold at 32.24. Additional indicators including Stoch RSI, CCI, and BBP continue to signal strong seller dominance. The Awesome Oscillator also confirms negative momentum, with all indicator readings aligning toward a persistent downside bias and no notable divergences.

Consolidation scenario prevails as downside risk escalates near support

For the next several trading sessions, SLB is expected to trade within a volatility band of $53.27 to $55.47. Given the clearly high downside probability and limited chance of an upward reversal, a base case scenario would see the price consolidate sideways within this range. Downside momentum would accelerate if support at $53.27 breaks, while any reversal scenario requires a push above the immediate $55.46 resistance.

Anton Kharitonov, expert at Traders Union, notes that SLB remains under clear technical pressure with no supportive news flow. He sees the bearish momentum confirmed by multiple indicators, with immediate resistance at $55.46 and crucial support at $53.27. The base case is sideways consolidation, but a break below support could accelerate losses. "Until SLB can reclaim the $55.46 level, I remain cautious and see no valid setup for an upside move."

Earlier, analysts noted that short-term bearish momentum had emerged for Schlumberger, with sellers maintaining clear dominance. The latest technical signals reinforce this view, underscoring that a decisive move below the current support level could trigger accelerated downside risk in the upcoming sessions.

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.