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3 years ago
Schlumberger Limited (NYSE: SLB) engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The company has been far from the thoughts of investors in the past few years, as it has fallen 65% from its 2014 highs. For long-term investors, this could provide a fantastic opportunity. SLB is currently offering nearly 200% upside potential. The company is also one of the strongest in the USA and investors have a nice 4% yield to grasp on to, while they wait for a sustained recovery.
Fears of political issues have intensified in recent days as the USA have retaliated against the Iranian regime, which has added another spark to the tinder box within the Middle East.
Short term $45.70 – at weekly resistance.
Medium Term $51.00 – .236 Fibonacci retrace level.
Longer term $54.00 – strong horizontal weekly resistance.
Buy trigger to watch:
A sustained break above the daily resistance level @ approx. $41.00