Schlumberger NV (SLB)
Schlumberger Limited is an oilfield services company. Schlumberger has four principal executive offices located in Paris, Houston, London, and The Hague.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 44.76% per annum.
- SLB price at the close of April 26, 2024 was $49.20 and was lower than the bottom border of the primary price channel by $10.51 (17.60%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 29.52% per annum.
- SLB price at the close of April 26, 2024 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of SLB price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: March 9, 2020
End date: November 6, 2023
a = 2.5007
b = 0.0010
s = 0.1298
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0010) – 1
= 44.76%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1298) – 1
= 68.08%
March 9, 2020 calculations
Top border of price channel:
Exp(Y217)
= Exp(a + b × X217 + 2 × s)
= Exp(a + b × 315 + 2 × s)
= Exp(2.5007 + 0.0010 × 315 + 2 × 0.1298)
= Exp(3.0795)
= $21.75
Bottom border of price channel:
Exp(Y217)
= Exp(a + b × X217 – 2 × s)
= Exp(a + b × 315 – 2 × s)
= Exp(2.5007 + 0.0010 × 315 – 2 × 0.1298)
= Exp(2.5603)
= $12.94
November 6, 2023 calculations
Top border of price channel:
Exp(Y1,140)
= Exp(a + b × X1,140 + 2 × s)
= Exp(a + b × 1,652 + 2 × s)
= Exp(2.5007 + 0.0010 × 1,652 + 2 × 0.1298)
= Exp(4.4344)
= $84.30
Bottom border of price channel:
Exp(Y1,140)
= Exp(a + b × X1,140 – 2 × s)
= Exp(a + b × 1,652 – 2 × s)
= Exp(2.5007 + 0.0010 × 1,652 – 2 × 0.1298)
= Exp(3.9152)
= $50.16
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 44.76% per annum.
- SLB price at the close of April 26, 2024 was $49.20 and was lower than the bottom border of the primary price channel by $10.51 (17.60%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: July 11, 2023
End date: March 8, 2024
a = 5.5790
b = -0.0010
s = 0.0405
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0010) – 1
= -29.52%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0405) – 1
= 17.59%
July 11, 2023 calculations
Top border of price channel:
Exp(Y1,057)
= Exp(a + b × X1,057 + 2 × s)
= Exp(a + b × 1,534 + 2 × s)
= Exp(5.5790 + -0.0010 × 1,534 + 2 × 0.0405)
= Exp(4.1896)
= $66.00
Bottom border of price channel:
Exp(Y1,057)
= Exp(a + b × X1,057 – 2 × s)
= Exp(a + b × 1,534 – 2 × s)
= Exp(5.5790 + -0.0010 × 1,534 – 2 × 0.0405)
= Exp(4.0276)
= $56.13
March 8, 2024 calculations
Top border of price channel:
Exp(Y1,224)
= Exp(a + b × X1,224 + 2 × s)
= Exp(a + b × 1,775 + 2 × s)
= Exp(5.5790 + -0.0010 × 1,775 + 2 × 0.0405)
= Exp(3.9586)
= $52.39
Bottom border of price channel:
Exp(Y1,224)
= Exp(a + b × X1,224 – 2 × s)
= Exp(a + b × 1,775 – 2 × s)
= Exp(5.5790 + -0.0010 × 1,775 – 2 × 0.0405)
= Exp(3.7966)
= $44.55
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 29.52% per annum.
- SLB price at the close of April 26, 2024 was inside the secondary price channel.