1/18/2019 – $SLB

SLB

Stock Overview: Schlumberger $SLB beat on both EPS and revenue grinding higher in both the after hours and pre-market sessions.

Market Overview: Overall market indexes were strong green up over 1% in the first hour of trading. Oil related names have been slammed over the past year, but have been stronger in early 2019.

Technicals: The opening bell proved to be choppy with a lot of indecision until buyers stepped in at 9:55 sending shares back over VWAP (43.60)

Trade: Saw the stock bounce off VWAP (43.75) and decided to enter off $44. Filled call contracts at $2.04 using that VWAP bounce as my risk level.

Summary: Entered after buyers stepped in at VWAP. Exited as close to top channel as possible. The only big mistake was not re-entering the trade at basically the same entry & exit prices. After the stock held the opening 10 min candle high $44 and started grinding higher could have literally re-entered the exact same trade.

Result: +.38 contract

Stop:$43.75
Entry: $44.05
Target: 44.45
Actual Exit: $44.42
1 Year Trend: Bearish
200 day: Below
100 Day: Below
50 Day: Below
Weekly Candle Low: 38.95
Weekly Candle High: 41.84
Average Daily Volume: 14.68M
Opening 10 Min Volume: 2.88M
52 Week High: 77.41
52 Week Low: 34.99
Short Interest: 1.97%