Schlumberger
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SLB
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$38.62
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-0.49%
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$39.57
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$39.69
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$38.51
Tue, January 30, 2024 | 11:32AM ET
I discussed technically last week whyOIH-0.30% might face some resistance heading into this week, and today'sSLB-0.49% ,BKR0.71% HAL-0.67% losses (4-9% in today's trading) have resulted in OIH pulling back sharply from trendline resistance. I expect today probably marks an attractive opportunity for traders. yet, trend followers will require a rally back above this ongoing downtrend. this will take time. At present, OIH is well up off early lows and this is encouraging after the early decline
