• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing
  3. / Energy

Schlumberger Stock Could Rise 45% From Here

SLB posted better-than-expected fourth-quarter numbers on strong oilfield services demand.
By BRUCE KAMICH
Jan 20, 2023 | 01:01 PM EST
Stocks quotes in this article: SLB

Shareholders and analysts got a nice report from SLB, formerly known as Schlumberger (SLB)  , Friday morning as the company announced better-than-expected fourth-quarter numbers on strong oilfield services demand.

Let's drill down on the charts.

In the daily bar chart of SLB, below, I see an uptrend over the past 12 months. Prices are trading above the rising 50-day moving average line and above the rising 200-day line.

The trading volume has been more active since June and the daily On-Balance-Volume (OBV) line has moved higher with prices the past year. A rising OBV line helps to confirm the price gains. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line.

 
In the weekly Japanese candlestick of SLB, below, I see a strong longer-term advance still underway. Prices have more than tripled in the past three years. SLB trades above the rising 40-week moving average line.
 
The weekly OBV line shows strength from July. The MACD oscillator is bullish. The candles do not show a top reversal pattern.
 
 
In this daily Point and Figure chart of SLB, below, I see a nearby price target of $62.
 
 
In this weekly Point and Figure chart of SLB, below, I see a potential price target in the $83 area.
 
 
Bottom-line strategy: Traders could go long SLB closer to $56 if available risking to $52. The $83 area is our price target.
 
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Earnings | Investing | Technical Analysis | Energy | Oil Equipment/Services

More from Energy

Phillips 66 Looks Like It's on the Right Route

Bruce Kamich
Jan 26, 2023 1:33 PM EST

PSX appears poised for further gains as earnings approach, according to the charts and indicators.

Valero Energy Has a Huge Upside Price Target

Bruce Kamich
Jan 20, 2023 10:44 AM EST

A breakout could soon be at hand for the oil refiner.

Halliburton May Soon Face Price Weakness

Bruce Kamich
Jan 19, 2023 12:00 PM EST

The energy sector has been a bright spot in the stock market for the past year or so but let's see what HAL's charts are telling us.

Markets Exist Because People Disagree: I'll Be on the Other Side

Jim Collins
Jan 19, 2023 11:05 AM EST

The new 'inflation is peaking' narrative is based, really, on one factor in the government's price calculations.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 03:06 PM EST BOB LANG

    LEAPS Webinar

    This week, I offered a free webinar session talkin...
  • 02:53 PM EST REAL MONEY

    LIVE EVENT: Chris Versace and "Sarge" Guilfoyle Share Their Stock Market Insights

    This Monday, Jan. 30, at 12 p.m., our very own exp...
  • 04:58 PM EST REAL MONEY

    The Latest AAP Podcast!

    Listen in as AAP Tackles Earnings, the Fed, Recess...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login