Schlumberger Limited Stock Code SLB.NYS
Outlook
Price broke below the cloud 3 days ago and price had stayed below the cloud for the past 3 days. Yesterday, there was a small bearish Engulfing pattern which is a sign that price could be heading lower again. Base and Conversion lines already had a bearish crossover, confirming the bearish trend. Lagging Span is below price of 26 days ago as well as below the cloud, confirming the bearish trend in progress. MACD is bearish as well with both its lines below the zero line. Both of MACD’s lines are moving lower and its gradient is steep, which is a hint of a strong bearish trend. We think price is likely to move lower to test the low at $30.66.
Strategy
$34.50 Short Sell
$30.70 Price Target
$35.80 Risk Management Stop
3 weeks Trade Duration
Walt Disney Company Stock Code DIS.NYS
Outlook
Price moved below the cloud a few days ago and yesterday, there was a bearish Engulfing pattern. This could be a sign of further price decline ahead. Both Base and Conversion lines had a bearish crossover, confirming the bearish trend. Lagging Span is below price of 26 days ago as well as below the cloud, confirming the bearish trend in progress. MACD is bearish as well with both its lines below the zero line. Both of MACD’s lines are moving lower and its gradient is steep, which is a hint of a strong bearish trend. We think price could be moving lower to its support base at $128.77.
Strategy
$138.30 Short Sell
$128.80 Price Target
$142.20 Risk Management Stop
3 weeks Trade Duration
