Many stock market investors want to buy low and sell high, but how can you tell if a stock's price is high? The answer is complicated, but there are still key characteristics that tell us that there's an opportunity for appreciation. If you hold a stock that recently doubled, you might be anxious to sell and realize those gains. If you never got around to pulling the trigger on that stock, you might be kicking yourself for missing out on the opportunity. But wait! Before you give up on those highfliers, take a moment to consider their prospects. The stocks on this list recently doubled, but they could easily keep things going.
Schlumberger (NYSE: SLB) is an oilfield services company that was torn down with the rest of the sector in early 2020. The company provides consulting services, software solutions, and equipment used in the exploration, production, and extraction of energy. Exploration and production activity slowed down dramatically around the globe last year, and international travel nearly stopped completely. Dwindling demand and logistical hurdles caused Schlumberger's revenue to fall more than 28% in 2020. However, as oil prices rebound and the sector comes back to life, oilfield service providers are also inching back toward results.
Schlumberger shares were nearly $90 as recently as 2017 but sunk below $14 in the first quarter of 2020. They've since rebounded to $31.55, handsomely rewarding investors who bought in at the bottom. However, the fundamentals indicate that the stock could keep climbing, especially if a few more quarters of positive results encourage capital to flow toward energy sector stocks .
For further details see:
These 2 Stocks Doubled and Still Have Room to Go