Fresh buy signal, earnings today
SLB shares jump 11.6% off a double bottom as the buy signal fires on earnings day
Fresh buy signal, earnings today
Our view last week
SLB shares slip back: after last week's 5.8% bounce, this week the stock gives back 1.6% and sellers retake control, with 75% of volume on the sell side and an extreme sellers' dominance on the last bar. The double bottom in the 45 area still holds, but our weekly technical analysis on SLB notes the bounce has already lost its push: distribution deepens and buyer dominance collapses.
This week's summary
SLB shares rebound 11.6% off a clean double bottom in the 45 area, and our weekly technical analysis marks the birth of a fresh buy signal, second among the seven new US Longs. The rally lands right on earnings day, with 94% of the last session's volume on the buy side: a convinced setup, but confirmation only comes with next week's close.
IQS Phase
49
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#2 / 7
New us stocks
Trade P&L %
+0.00%
from signal to today
Rank position
ranks 2nd among the 7 fresh Longs for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimein positive regime
Performanceweekly +1.81% · monthly +1.36%
SLB belongs to the industrial sector (reference ETF XLI). The sector is classified in positive regime according to our weekly reading.
restricted Platinum content