PATTERSON-UTI ENERGY INC (PTEN) Stock Technical Analysis
NASDAQ:PTEN - Nasdaq - US7034811015 - Common Stock - Currency: USD
We assign a technical rating of 3 out of 10 to PTEN. Recently some decent action could be observed, but in the medium term time frame this is still negative. PTEN was also a bad performer in the overall market in the last year.
90% of all other stocks performed better in the past year than PTEN.
PTEN is part of the Energy Equipment & Services industry. There are 62 other stocks in this industry, of which 68% are performing better than PTEN.
PTEN is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
PTEN has an average volume of 12641700 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
In the last month PTEN has a been trading in the 5.67 - 6.72 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, PTEN does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 6.49. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for PTEN in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
5.40
7.31
2 important support areas can be observed.
- Support @5.93 from a trend line in the daily time frame.
- A support zone ranging from 5.45 to 5.51. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 6.49 to 6.61. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @6.95 from a trend line in the weekly time frame.
- Resistance @7.24 from a trend line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for PTEN is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PTEN is up. |
| ChartMill Relative Strength | 10.25 | NEGATIVE | PTEN has a low relative strength, it was outperformed by 89.75% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of PTEN is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of PTEN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of PTEN is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 52.32 | NEUTRAL | The RSI value for PTEN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests PTEN has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 78.43 | NEUTRAL | The Stochastics value for PTEN is a neutral value. |
| Average True Range in percent/ATR (20) | 4.51 | MEDIUM VOLATILITY | The ATR as a percentage value for PTEN suggests some volalility. |
| Average Directional Index/ADX (14) | 16.24 | NEGATIVE | The low ADX value for PTEN suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
6.3
-0.25 (-3.82%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryEnergy Equipment & Services
Performance
% Chg-3.82%
1 Week2.11%
2 Weeks6.6%
1 Month-0.79%
3 Month3.79%
6 Month-32.19%
12 Month-39.31%
2 Year-60.23%
3 Year-61.93%
5 Year62.58%
10 Year-61.79%
15 Year-61.66%
Volatility
ATR(14)0.27
ATR(20)%4.51%
ATR Inc-23.13%
Range Today0.23
ADR(20)0.28
ADR(20)%4.47%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS10.25
Mansfield-2.41
10 Day High6.69
10 Day Low5.78
20 Day High6.72
20 Day Low5.67
52 Week High11.07
52 Week Low5.12
CS1 End5.93
CR1 Start6.49
Volume & EV
DER(3)3.25%
DER(5)3.69%
Volume8.45M
Volume Incr-39.07%
Vol(5)7.63M
Vol(50)12.64M