SLB Limited: fresh sell signal at week one, but the daily chart calls for caution

SLB Limited receives a fresh weekly sell signal at week one — 35th among 119 sell signals for US stocks, with a signal strength of 98 out of 100. A sharp drop, but one to read as possible exhaustion rather than confirmation. On the daily chart, a double bottom is forming in the 53 area with a 12% intermediate rebound, and the quality band flags trading as not recommended. The confirmation week is still in progress.