SLB, week 4: the breakout hasn't triggered yet
SLB stock edges up 0.2%, pinned just below breakout near the 54.6 area
Our view last week
SLB stock accelerates: up 6.4% this week, with 88% of daily volume on the buy side. Price is back at its recent high, in the 53 area, but no session has turned it away yet: for now the move continues. Last week the buy signal's confirmation closed lower, read as a case for exiting: this week's bounce tries to flip the picture, but the weekly structure stays bullish, if with warnings.
This week's summary
After last week's 6.4% rebound, SLB stock has gone quiet: this week's move is flat (+0.2%), but the price is holding at the edge of its 7-day high, near the 54.6 area, tracing a run of four higher lows on the daily chart, from 48 to 53. Volumes have thinned a touch and the Industrial sector stays soft, in this weekly technical analysis. The trade is already up 2.8%, with the stop now locked in above breakeven.
IQS Phase
63
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#106 / 167
US stocks in progress
Trade P&L %
+2.77%
from signal to date, no stop loss
Rank position
ranks 106th among the 167 Longs already running for US stocks in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimeweak phase
Performanceweekly -3.36% · monthly +0.78%
SLB belongs to the industrial sector (reference ETF XLI). The sector is classified weak phase according to our weekly reading.
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