The bearish DailyPlay we chose for Monday January 11th is Schlumberger (SLB). SLB is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 8.19% move lower and it’s 1m and 6m trend turned bearish on 12/02 while breaking below its $65 support area.
Schlumberger’s 1m and 6m trends turned bearish on 12/02 and recently bounced lower off its $72 minor resistance area. With a technical score of 4 (out of 10), SLB looks positioned to continue this strong bearish trend lower.