Schlumberger N.V.s stock price (SLB) declined in its latest intraday trading, having earlier been impacted by exiting an ascending corrective price channel that had been guiding its previous short-term movements. This comes with continued negative pressure from trading below its previous 50-day SMA, in addition to negative signals from the RSI, despite it holding in oversold areas.

Therefore, we expect the stock to decline in its upcoming trading, as long as resistance at 34.10 remains intact, targeting the key support level of 31.10.

Todays price forecast: Bearish.