Schlumberger Slumps 4.1% To 2025 Low Amid Bearish Technical Breakdown

Schlumberger (SLB) declined 4.10% to close at $34.17 on July 30, 2025, marking two consecutive down days with a cumulative 5.08% loss. The session traded between $33.92 and $35.51, underscoring ongoing bearish pressure.
Candlestick Theory
Recent candlestick patterns reveal significant bearish momentum. The July 30 session formed a long red body closing near its low after a failed rally to $35.51, signaling strong selling interest. A key support level at $33.90 has emerged, reflecting the year’s low on April 9, 2025. Resistance is evident near $35.50, aligned with the July 30 high and multiple prior bounces. The two-day bearish sequence suggests potential continuation toward $33.50–$33.90 if support breaks.
Moving Average Theory
Schlumberger’s moving averages depict entrenched bearish structure. The 50-day MA (approximately $37.20), 100-day MA ($38.60), and 200-day MA ($39.80) are declining in a death cross formation, with current price below all three thresholds. This configuration underscores sustained downward pressure, with any near-term rally likely capped by the 50-day MA. The widening gap between the 50-day and 200-day MAs may indicate accelerating downside momentum.
MACD & KDJ Indicators
MACD shows bearish divergence, with the MACD line below the signal line and both trending negatively since mid-July. KDJ readings—particularly the %K and %D lines—have entered oversold territory (below 20) but show no bullish crossover, reflecting unreleased selling pressure. Confluence in momentum oscillators suggests continued weakness, though deeply oversold KDJ readings could precede a technical bounce if paired with volume confirmation.
Bollinger Bands
Bollinger Bands highlight heightened volatility compression. The July 30 close near the lower band (approximately $33.60) coincided with a band expansion, validating the breakdown. The bandwidth increase from recent contraction signals growing bearish momentum. Reversion toward the 20-day moving average (mid-band near $35.40) would face resistance, aligning with candlestick and MA resistance near $35.50.
Volume-Price Relationship
Volume patterns affirm bearish conviction. Down days consistently registered above-average volume, culminating in 17.93 million shares traded on July 30—26% above the 30-day average—signifying distribution. Conversely, up days showed muted volume, indicating weak buying interest. This divergence suggests sustainable downward momentum without imminent reversal signals.
Relative Strength Index (RSI)
The 14-day RSI reading of 28 signals an oversold condition. While this may warn of exhaustion, bearish volume and price structure limit its reversal implication. Notably, RSI has hovered near 30 since late July without triggering recovery, reflecting persistent selling pressure. Confluence with Bollinger Band and KDJ oversold readings warrants caution against contrarian positioning without bullish confirmation.
Fibonacci Retracement
Applying FibonACCi to the recent swing low of $33.32 (July 18) and high of $36.00 (July 28) yields key levels. The 38.2% retracement ($34.34) was breached decisively on July 30, with the 50% level ($34.66) now serving as immediate resistance. The 61.8% retracement ($34.98) aligns with the 100-day MA and July 25 high, forming a major resistance cluster. Current price near the 23.6% level ($33.95) suggests vulnerability to retest the $33.32 swing low.
Confluence and Divergences
Confluence is evident between oversold indicators (RSI, KDJ, Bollinger Bands) and bearish structure (MAs, volume), collectively signaling entrenched downside momentum. Divergence appears in momentum oscillators (KDJ and RSI oversold) lacking bullish confirmation from volume or candlestick patterns. High-probability support rests at $33.90–$33.30, where yearly lows, FibonACCi extensions, and volatility bands converge. Resistance near $35.50 integrates multiple methodologies, requiring substantial volume to breach. Absent bullish reversal signals, Schlumberger may test the $33.30–$33.90 support zone, with any rally likely capped below the 50-day MA.