Schlumberger Limited(SLB) is in an uptrend but could lose its momentum

(23-May-2008) (23-May-2008) Schlumberger Limited(SLB) closed at 100.26, down -0.87 or -0.86 % today. Based on our analysis, Schlumberger Limited(SLB) is in an uptrend but could lose its momentum.

The closing price of Schlumberger Limited(SLB) is above its 50 day moving average of 97.7 (Designated by blue line). This indicates that the trend is up. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that Schlumberger Limited(SLB) is losing momentum. Sustained loss of momentum could put the uptrend at risk. The MACD histogram crossed below the signal line on 30-Apr-2008, about 24 trading days ago.