Schlumbergers stock price (SLB) rose in the intraday levels while trying to recoup some recent losses, while trying to vent off oversold saturation in the RSI with positive signals coming out of them, amid the dominance of the main downward trend in the medium-term, with negative pressure from the 50-day SMA.

Therefore we expect the stock to return lower, targeting the support of $42.73, provided the resistance of $47.17 holds on.

Trend Forecast: Likely Bearish