Schlumberger Clears Technical Benchmark, Hitting 80-Plus RS Rating

When looking for the best stocks to buy and watch, focus on those with rising relative price strength.

One stock that fits that bill is Schlumberger (SLB), which had its Relative Strength (RS) Rating upgraded from 77 to 81 Tuesday morning.


As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.

This exclusive rating from Investor’s Business Daily measures share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price movement over the last 52 weeks compares to all the other stocks in our database.

Over 100 years of market history shows that the top-performing stocks tend to have an RS Rating of above 80 as they begin their biggest price moves.

Looking For Winning Stocks? Try This Simple Routine

Schlumberger stock is working on a consolidation with a 36.97 entry. See if the stock can break out in volume at least 40% above average. Keep in mind that it’s a later-stage consolidation, and those are riskier than earlier-stage patterns. And that the current market is facing headwinds.

Taking a look at top and bottom line numbers, Schlumberger stock has posted four quarters of increasing earnings growth. Sales growth has also risen during the same period. Schlumberger is expected to report its next quarterly numbers on or around Oct. 16.

The company earns the No. 6 rank among its peers in the Oil & Gas-Field Services industry group. Halliburton (HAL) and Fts International (FTSI) are also among the group’s highest-rated stocks.


Join IBD Live And Learn Top Chart-Reading And Trading Techniques From The Pros
MarketSmith’s Tools Can Help The Individual Investor
Profit From Short-Term Trends With SwingTrader
Get Timely Buy & Sell Alerts With IBD Leaderboard
Find The Best Long-Term Investments With IBD Long-Term Leaders


Most Related Links :
usnewsmail Governmental News Finance News

Source link

Back to top button