$SLB jumped 11% on Friday after beating Q2 expectations.

Over the weekend, the one risk management cannot control got worse.
Revenue reached $8.97B, while adjusted EPS came in at $0.55 versus $0.51 expected.
However, Middle East and Asia revenue fell 14% to $2.57B as the Iran war disrupted operations across SLB’s largest market.
Now, Houthi attacks on Saudi oil infrastructure are threatening another major energy route through the Red Sea.
This creates a two-sided setup.
Higher oil prices and the need to restore production can support future demand for SLB’s services, while further escalation could delay its Middle East recovery.
Technically, Friday’s earnings gap broke the July range but stopped directly inside the $52–$53 decision zone.
Until buyers establish acceptance above $53, this remains an earnings expansion into resistance, not a confirmed reversal.
A close above $53 followed by a successful retest opens $55.50–$56.50 and potentially $58.50.
A rejection brings $49.70–$50.10 back into play, while losing $48.50 would expose the $45–$46 demand zone.
I’m not chasing an 11% candle into resistance.
I want to see whether buyers can turn Friday’s reaction into acceptance above $53.