The PEAD projected a Bullish outlook for $SLB after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 40%.
Long position for SLB - simple plot via linear regression line - coincide with Fibonacci Retracement - making new high to the long position.
As long as the price action stay within the gray area making new high and higher high with higher low, trend is up!
SLB Swing Trade - Grade A
Strategy Description
• Solid earnings + Reaction
• In a very strong sector (XLE)
• Huge daily level with not much resistance until higher up
Market Big Picture
• SPX favors the upside until we break below 3638.
• Energy plays tend to diverge from SPX, so this is a comfortable swing even if the market is dying and breaks below...
earnings watch 10/21
SLB
HCA
RF
INDB
CPF
AXP
SMPL
ALV
VZ
EEFT
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading...
SLB weekly indecision candle pressure building nice and bearish volume exceeds bullish all the time. Had to take that one. Stop loss above local highs.
Oilfield-services provider Schlumberger has been grinding higher for weeks. Now amid a brief pullback, it could soon offer buyers a potential opportunity.
The first pattern on today’s chart is the series of higher lows since mid-July. SLB hit resistance several times around $37.20 before breaking out on August 23. Traders may look for support to form near the top...
Oil supply will dwindle, Russia to inflict max pain on Europe to try for instability.
Easy inverse H&S, looking for crude and oil stocks to post recovery in next 3-4 months.
Best of luck trading.
The PEAD projected a Bullish outlook for $SLB after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 44.44%.
The Overall Market
The current market is extremely tricky, but it is possible to find a rational explanation for every move. I took a closer look at the oil market , which is clearly undergoing gradual demand destruction caused by the recession fears (like the recent economic news from China) Although I understand that the bigger-picture supply situation might...
Famous Oil Field company is expected to increase in this upcoming month for a good gain after reversaing from a down trend. Fractal is only idication of wave movement not excact.
