Schlumberger (SLB) NewsBite - SLB Upgraded By RBC Capital Markets

Posted: Monday, October 26, 2009 11:52 AM EDT

Schlumberger (SLB) was upgraded today by analysts at RBC Capital Markets and the stock is now at $65.68, up $.48 (0.74%) on volume of 5,536,908 shares traded. RBC Capital Markets upgraded the stock today to Outperform from Sector Perform. Over the last 52 weeks the stock has ranged from a low of $35.05 in February to a high of $71.10 in last week. Schlumberger stock has been showing support around $61.37 and resistance in the $70.45 range. Technical indicators for the stock are bearish and S&P gives SLB a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on SLB the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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