Schlumberger N.V. (SLB) stock price extended its gains in its latest intraday trading, as the stock successfully overcame the negative pressure from its 50-day SMA with its recent advance. This comes amid the dominance of a primary bullish trend in the short term, with price moving alongside a supporting trendline, in addition to positive signals emerging from the Stochastic indicator, despite reaching excessively overbought levels relative to price action.

Therefore we expect the stock price to rise during its upcoming trading sessions, as long as it remains stable above the support level at $47.35, targeting the key resistance level at $52.45.

Todays price forecast: Bullish