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Shares of Schlumberger Under Pressure, Down 1.3%

Published on Wed, 02/06/2013 - 13:25
By Robert Cotter

One of today's stocks on the move is Schlumberger (NYSE:SLB), down 1.3% to $79.15. The S&P is trading fractionally higher to 1,512 and the Dow is trading fractionally higher to 13,986.

Schlumberger Limited is an oil services company. The Company, through its subsidiaries, provides a wide range of services, including technology, project management and information solutions to the international petroleum industry as well as advanced acquisition and data processing surveys.

In the past 52 weeks, Schlumberger share prices have been bracketed by a low of $59.12 and a high of $80.78 and are now at $79.15, 34% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 0.78% higher over the past week, respectively.

Schlumberger (NYSE:SLB) has potential upside of 14.5% based on a current price of $79.15 and analysts' consensus price target of $90.61. The stock should discover initial support at its 50-day moving average (MA) of $73.06 and subsequent support at its 200-day MA of $70.73.

By Robert Cotter
rcotter@fnno.com

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