Schlumberger Is Among 7 Stocks Ready to Change Direction

These names are showing either bullish or bearish reversal patterns.
Stocks quotes in this article: SLB, CI, DERM, JEC, OHI, INFN, LDOS

Below is a list of names for those charts we believe are showing technical characteristics of either bullish or bearish reversal patterns that occurred over the past week.

Bullish reversals imply institutional accumulation and the potential for higher prices. Bearish reversals imply institutional distribution and the potential for lower prices. Each group is listed by sector affiliation.

Please feel free to contact the author for further details.

Bullish Reversals:

Energy: Schlumberger (SLB)

Healthcare: Cigna Corp. (CI) , Dermira, Inc. (DERM)

Industrials: Jacobs Engineering Group (JEC)

Real Estate: Omega Healthcare Investors (OHI)

Bearish Reversals:

Technology: Infinera Corp. (INFN) , Leidos Holdings (LDOS)

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At the time of publication, Ortmann had no positions in any securities mentioned.

Action Alerts PLUS, which Jim Cramer manages as a charitable trust, is long SLB.

TAGS: Investing | U.S. Equity

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