In our last review of the charts of Schlumberger ( SLB) on October 20, we recommended that "Traders should continue to hold longs from the $28 area. Raise stops to $29 from $24. Our price targets are $50 and then $75." 
With the energy services giant beating on earnings and revenue, and raising their dividend this Friday morning, another review of the charts is warranted.
In this updated daily bar chart of SLB, below, we can see that prices have traded sideways to higher the past three months. Prices have been testing the rising 50-day moving average line and remain comfortably above the rising 200-day moving average line. The trading volume increased from late December to the middle of March as prices rallied.
The On-Balance-Volume (OBV) line has moved up from December but in a choppy manner. The Moving Average Convergence Divergence (MACD) oscillator is pointed down but still remains above the zero line in bullish territory.
In this weekly Japanese candlestick chart of SLB, below, we see a mixed picture. Prices are in an uptrend above the rising 40-week moving average line and can see some lower shadows.
The weekly OBV line has been moving sideways since at least August. The MACD oscillator is bullish but has narrowed and could soon cross to the downside.
In this daily Point and Figure chart of SLB, below, we can see a potential upside price target in the $51 area.
In this weekly Point and Figure chart of SLB, below, we can see a $64 price target.
Bottom line strategy: Continue to hold longs. Raise stop protection to $35 from $29. $51 and then $64 are our price targets now.
