Can Schlumberger stock extend gains as rally lifts shares above key averages?

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Schlumberger jumps 3.3% to $55.38 today

Highlights

SLB/USD trades decisively above short, medium, and long-term moving averages, demonstrating a firm upward trend across all timeframes.
Momentum indicators including MACD and ADX remain neutral, but RSI and other oscillators register overbought conditions, flagging possible short-term overextension.
SLB/USD is forecasted to remain between $54.07 and $56.39 in the next 2 to 3 trading days with a strong probability of upward movement.

Overbought signals and neutral momentum amid multi-level support

On the hourly chart, SLB is trading above its MA-20 at $53.59 and MA-50 at $53.53, while the daily MA-200 is positioned lower at $48.33, underscoring multi-timeframe support. The Ichimoku Kijun sits at $53.19, forming an immediate support reference. MACD and ADX are both neutral, pointing to balanced momentum with no clear dominant trend intraday. RSI stands at 53.43 with a buy indication, CCI is also signaling buy, and the Stochastic RSI shows overbought conditions, highlighting strong short-term buying and potential overextension. Bull/Bear Power illustrates buyer dominance in the intraday move, while the Awesome Oscillator remains neutral.

Bullish scenario favored as range risk remains limited

In the coming 2–3 trading days, SLB/USD is projected to remain within the $54.07 to $56.39 range based on recent volatility. The probability of an upward move is very high, with a downside scenario viewed as unlikely. If price breaks above resistance, further gains could materialize; conversely, a move below immediate support might allow for short-term declines.

Viktoras Karapetjanc, expert at Traders Union, sees SLB’s current price action as a sign of robust momentum. Price trading above all key averages shows strong multi-timeframe support. No fresh news flow, but technical sentiment stays favorable. He believes the probability of continued gains is high with low downside risk in the short term. "With buyers clearly dominating and multiple indicators supporting the move, I remain bullish on SLB while support levels continue to hold."

Earlier, analysts noted that Schlumberger was exhibiting strong bullish momentum underpinned by favorable technical signals. The current analysis builds on this by highlighting continued upside momentum and advises monitoring the $56.39 resistance level for the potential emergence of a renewed directional move.

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.