Trade Idea for Schlumberger Limited (NYSE)

Schlumberger Limited (NYSE)

#SLB

    The trend is bullish. The stock is trading within the range between the 365 EMA and 135 EMA. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator signals oversold conditions. The trend channel of the truncated descending structure has been broken.

Trading Idea:

Buy on a breakout above 38.08.

Stop Loss: 37.50.

Target levels: 38.86; 40.75.