PATTERSON-UTI ENERGY INC (PTEN)

US7034811015 - Common Stock

11.94  -0.11 (-0.91%)

After market: 11.94 0 (0%)

Technical Rating and Analysis

6

Overall PTEN gets a technical rating of 6 out of 10. In the past year, PTEN was only an average performing stock in the market. The medium term picture is unclear, although we see some positive events in recent action.

PTEN is one of the lesser performing stocks in the Energy Equipment & Services industry. 60% of 66 stocks in the same industry do better.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
In the last month PTEN has a been trading in the 11.05 - 12.33 range, which is quite wide. It is currently trading near the high of this range.
Prices have been consolidating recently, this may present a good entry opportunity.
PTEN has an average volume of 6941020 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When compared to the yearly performance of all other stocks, PTEN outperforms 55% of them, which is more or less in line with the market.
PTEN is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so PTEN is lagging the market.
Weekly and Daily overview Charts
PTEN Weekly chart
PTEN Daily chart
Setup Rating and Analysis

8

Although the technical rating is only medium, PTEN does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 12.06. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 11.81, a Stop Loss order could be placed below this zone.

Support and Resistance Analysis

10.00

14.29

When analyzing the support we can see 5 important areas.

  • A support zone ranging from 11.76 to 11.81. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
  • A support zone ranging from 11.52 to 11.54. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • A support zone ranging from 11.26 to 11.31. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
  • Support @10.89 from a trend line in the daily time frame.
  • Support @10.10 from a horizontal line in the weekly time frame.

We can see 3 important resistance areas.

  • A resistance zone ranging from 12.06 to 12.11. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Resistance @13.21 from a trend line in the weekly time frame.
  • Resistance @14.15 from a trend line in the weekly time frame.
Statistics, Performance, Trends, Indicators, Chart- and CandleStick Patterns
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS55.66
Mansfield-1.63
10 Day High12.3
10 Day Low11.43
20 Day High12.33
20 Day Low11.06
52 Week High16.18
52 Week Low9.7
Performance
1 Week0.84%
2 Weeks3.74%
1 Month3.2%
3 Month10.56%
6 Month-13.73%
12 Month2.05%
2 Year-22.87%
3 Year67.46%
5 Year-14.84%
10 Year-62.31%
15 Year33.26%
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)
Technical Indicators
MACD(12,26,9)-0.01
RSI(14)56.31
LBB11.36
UBB12.14
Example Setup

Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.

ENTRYEXITDISTANCECAPITAL
12.1211.750.37 (3.05%)25.00%
An entry @12.12. This is a Buy Stop order right above the resistance zone.An exit @11.75. This is a Stop Loss order right below the support zone.The worst case loss on the trade is limited to 0.37 points, which is 3.05%.When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.76%.

  • The distance between exit and entry is rather small compared to the average daily movement of PTEN. Please evaluate whether better entry and exit points can be found.
  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
PTEN Daily chart

PATTERSON-UTI ENERGY INC

NASDAQ:PTEN (3/28/2024, 8:00:01 PM)

After market: 11.94 0 (0%)

11.94

-0.11 (-0.91%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryEnergy Equipment & Services
Performance
% Chg-0.91%
1 Week0.84%
2 Weeks3.74%
1 Month3.2%
3 Month10.56%
6 Month-13.73%
12 Month2.05%
2 Year
3 Year
5 Year
10 Year
15 Year
Volatility
ATR(14)0.43
ATR(20)%3.42%
ATR Inc
Range Today0.45
ADR(20)
ADR(20)%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS
Mansfield
10 Day High12.3
10 Day Low11.43
20 Day High12.33
20 Day Low11.06
52 Week High16.18
52 Week Low9.7
CS1 End
CR1 Start
Volume & EV
DER(3)
DER(5)
Volume11.05M
Volume Incr-6.65%
Vol(5)5.98M
Vol(50)6.94M