SLB is looking poised for a break out after basing in a tight fashion for the past 4+ weeks. Sell volume was rather high in the past 5 weeks but it seems to be abating and despite the high sell volume, the stock has maintained above the breakout level in orderly tight price pattern. This deserves continued monitoring. I believe that the summer months will put strain on gasoline and oil inventories benefitting this stock.
Bullish SLB.
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