With Schlumberger Poised for an Upside Breakout, Here's How I'd Play It

·2 min read
With Schlumberger Poised for an Upside Breakout, Here's How I'd Play It

The rising On-Balance-Volume (OBV) line is a good sign that buyers are aggressive now and the Moving Average Convergence Divergence (MACD) oscillator is bullish. The weekly OBV line is pointed up and near a new high while the MACD oscillator just crossed to a fresh buy signal. In this daily Point and Figure chart of SLB, below, we can see a $50 price target.