SLB N.V. (SLB) Technical Analysis

Price Action Analysis

Overview:

Current price context: SLB is trading in the low-to-mid $40s, with the latest quote around $43.80. The move has been constructive for an uptrend, with price consistently trading above key moving averages and maintaining higher highs and higher lows in the recent run.
Trend direction: Short-term trend remains bullish as price sits above both the 50-day and 200-day moving averages. The price action shows a steady up-leg since late December, with a series of higher closes and dips that find support near the rising baselines.
Recent price behavior (daily): The daily action shows a sequence of bullish candles after testing nearby support zones. The most recent bars exhibit stronger closes, suggesting renewed upside momentum. Intraday dip to around the mid-$42s indicates nearby intraday support.
Notable levels from the charts:
- Immediate resistance around the $44–$45 zone, with a potential short-term target near the psychological $46–$50 area if a breakout above $45 occurs.
- Immediate support around $42.0–$42.5, with a stronger cluster near $40–$41.
- Longer-term support near the $35–$36 region, aligned with long-term trend baselines.

Weekly perspective:

A broader uptrend remains in place, with prices oscillating within a higher-timeframe range but preserving the overall upward tilt. The weekly structure supports a bullish bias as long as key multi-week supports hold and price remains above major moving averages.

Candlestick structures:

The daily candles in the latest up-swing display larger bullish bodies with diminishing downside tails, consistent with a gradual gain in control by buyers.
Occasional short pullbacks show healthy supply absorption rather than decisive selling pressure, reinforcing the constructive setup as long as demand sustains.

Volume behavior:

Daily volume has shown intermittent spikes on up days, indicating accumulation during the leg higher. Down days show comparatively lighter volume, suggesting less conviction in selling pressure.
There are a few notable volume clusters around recent pullbacks, but overall price advances have been supported by at least modest volume expansion rather than a famine of activity.

Technical Indicators

Indicator	Reading (latest)	Interpretation / Implications
Current Price	$43.80	Trading above near-term moving averages; bullish stance intact.
50-day Moving Average	$37.20	Price comfortably above; acts as rising support; positive trend alignment.
200-day Moving Average	$35.10	Long-term support zone; bullish context confirmed by distance above this level.
RSI (14)	71.0	Near overbought territory; suggests potential for a shallow pullback or consolidation, but not a reversal unless divergence appears.
MACD (12,26,9)	MACD 0.90, Signal 0.60	Positive momentum; MACD above signal; widening gap supports continued upside bias.
MACD Histogram	+0.30	Positive momentum; modest acceleration in upward price pressure.

Key takeaways:

The price is decisively above both major moving averages, pointing to a bullish momentum regime.
Momentum indicators are positive (MACD above zero with a widening gap), but RSI near 70+ signals the possibility of a near-term pause or shallow pullback before resuming gains if the uptrend remains intact.

Volume & Momentum Analysis

Volume pattern supports the price action: up-days have tended to come with higher volume than down-days, consistent with a willing buyer presence during the latest leg higher.
The MACD remains bullish, with the line above the signal and a positive histogram, implying ongoing upside pressure.
RSI at elevated levels indicates a near-term overbought condition, which historically can precede a brief consolidation or pullback. The absence of a negative divergence between price and RSI reinforces the case that the trend can continue unless the RSI loses its uptrend momentum.
In summary, volume supports a continuation scenario in the near term, but traders should be mindful of overbought readings that can lead to a shallow retracement before any fresh leg higher.

Key Buy/Sell Levels

Trendlines and key levels have been placed to reflect near-term decision points. The horizontal levels are preferred as they align with clear support/resistance clusters and price action baselines.

Buy Zone A: around $42.0–$42.5
- Status: Has been touched intraday (current session intraday low around $42.52). Represents an immediate support cluster.
- Position relative to price: Near current price; potential bounce zone if price pulls back toward this area.
- Distance from current price (approximate): Current price is $43.80; Zone center ~ $42.25; Distance ≈ -$1.55 from current price (already tested; potential bounce area).
Buy Zone B: around $40.0–$41.0
- Status: Previously observed during pullbacks; not the current level but a meaningful near-term support region.
- Distance from current price: Zone center ~ $40.5; Distance ≈ -$3.30 (about -7.5%).
Buy Zone C: around $35.5–$36.5 (longer-term support)
- Status: Major longer-term support zone; not touched in the immediate term but provides a heavy-area floor if the price retraces meaningfully.
- Distance from current price: Zone center ~ $36.0; Distance ≈ -$7.80 to -$7.60 (about -18% to -17.9%).

Trendlines drawn to illustrate these zones:

A horizontal line at 42.0 (near-term support/resistance interface)
A horizontal line at 40.0 (shorter-term support region)
A horizontal line at 35.1–35.5 (longer-term lower boundary)

What these levels represent:

Support resilience near 42.0–42.5 aligns with the recent intraday dip and the price trading above the 50-day moving average, suggesting a dynamic floor for pullbacks.
The 40–41 zone acts as a secondary support layer consistent with prior price baselines and occasional late-December/early-January bounces.
The 35–36 area marks a major longer-term support region anchored by the historical hovering around the 200-day moving average and prior consolidation zones.

Implications:

A bounce from Zone A (roughly 42–42.5) would reinforce the bullish posture with a potential test of the 44–45 resistance.
A deeper pullback toward Zone B or Zone C would imply a more meaningful consolidation or retest of longer-term support, with Zone C representing a possible multi-week to multi-month re-entry point if the uptrend remains intact on re-acceleration.

Technical Outlook & Summary

Price action confirms a positive trend with price trading well above both the 50-day and 200-day moving averages, indicating a healthy uptrend bias.
Momentum remains favorable as shown by a positive MACD and rising histogram, while RSI near overbought levels suggests caution for a near-term pause or shallow pullback before continuing higher.
Volume analysis supports the continuation thesis, with up-days generally accompanied by stronger volume, indicating sustained demand rather than a pure short-squeeze.
Key near-term resistance sits around $44–$45; a clean break above this zone would open the door to a test of higher targets toward the $50 region, provided volume confirms the breakout.
Key near-term supports are near $42.0–$42.5 and $40–$41, with a stronger, longer-term floor near $35–$36.

Strategic takeaway:

The structure supports a constructive stance for a measured long exposure, particularly on pullbacks toward the 42–42.5 or 40–41 zones, provided price action remains constructive and volume supports a bounce. A break above 45 would reinforce upside potential toward 50+ in the following weeks, while a break below the near-term supports could trigger a more meaningful consolidation toward the longer-term support region.

Notes on risk:

The RSI reading near 70+ flags potential for short-term pullbacks. Traders may prefer to wait for a daily close above 45 to confirm a breakout, or instead look for a durable bounce from Zones A or B on lower-timeframe pullbacks with growing bullish confirmation.

Trendlines drawn for reference (extend beyond the current date to capture near-term movement):

42.0 horizontal line
40.0 horizontal line
35.1 horizontal line

If you want, I can adjust the buy zones or add alternative patterns (e.g., a短-term consolidation pattern like a flag or pennant) to refine entry points.

Finance Halo