SLB: 1.9% bounce during the signal's confirmation week
SLB stock climbs 1.9%, but the buy signal's confirmation stays shaky
SLB: 1.9% bounce during the signal's confirmation week
Our view last week
SLB shares bounce 2% off their 20-day moving average, in the 49 area, after touching the 48 area: our technical analysis flags a support level holding on the daily chart. On the weekly chart, though, the first confirmation week of the buy signal closes down 5.4%, with slightly prevalent sellers and rising distribution: the confirmation itself points toward exiting. The stop, meanwhile, has already tightened to near breakeven.
This week's summary
SLB shares bounce 1.9% this week, but the technical read stays cautious: the weekly structure is neutral, with candle bodies thinning out and a distribution phase still underway. The buy signal fired 2 weeks ago and its first confirmation week closed lower: our model still reads that as a case for exiting. The stop, meanwhile, has already tightened to near breakeven.
IQS Phase
41
ordinary
Signal Strength
59
medium
Sizing
STANDARD
Ranking
#53 / 132
US stocks in progress
Trade P&L %
-3.61%
from signal to date, no stop loss
Rank position
ranks 53rd among the 132 Longs already running for US stocks in our ranking, with a signal strength of 59 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimein strong phase
Performanceweekly +2.97% · monthly +2.64%
SLB belongs to the industrial sector (reference ETF XLI). The sector is classified in strong phase according to our weekly reading.
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