PATTERSON-UTI ENERGY INC (PTEN) Stock Technical Analysis
NASDAQ:PTEN • US7034811015
Overall PTEN gets a technical rating of 9 out of 10. Both in the recent history as in the last year, PTEN has proven to be a steady performer, scoring decent points in every aspect analyzed.
- PTEN is one of the lesser performing stocks in the Energy Equipment & Services industry. 61% of 61 stocks in the same industry do better.
- The long and short term trends are both positive. This is looking good!
- PTEN is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so PTEN is lagging the market slightly.
- In the last month PTEN has a been trading in the 7.21 - 8.90 range, which is quite wide. It is currently trading near the high of this range.
- PTEN has an average volume of 10414600 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Looking at the yearly performance, PTEN did better than 81% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
PTEN has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 8.54. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 8.36, a Stop Loss order could be placed below this zone. 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
5.24
4 important support areas can be observed.
- A support zone ranging from 8.22 to 8.36. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @7.91 from a horizontal line in the daily time frame.
- Support @5.82 from a trend line in the daily time frame.
- Support @5.29 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 8.54 to 8.71. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The long term trend for PTEN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PTEN is up. |
| ChartMill Relative Strength | 81.76 | POSITIVE | PTEN has a high relative strength, it outperformed 81.76% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PTEN is above the rising 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) | UP | POSITIVE | The current price of PTEN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 63.98 | NEUTRAL | The RSI value for PTEN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.04 | NEGATIVE | The MACD value suggests PTEN has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 59.18 | NEUTRAL | The Stochastics value for PTEN is a neutral value. |
| Average True Range in percent/ATR (20) | 4.49 | MEDIUM VOLATILITY | The ATR as a percentage value for PTEN suggests some volalility. |
| Average Directional Index/ADX (14) | 31.32 | POSITIVE | The high ADX value value for PTEN suggests a strong trend. |
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.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 8.72 | 8.21 | 0.51 (5.85%) | 17.10% |
| An entry @8.72. This is a Buy Stop order right above the resistance zone. | An exit @8.21. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.51 points, which is 5.85%. | For a 1.00% total portfolio risk, you can invest 17.10% of your capital in this trade. |
- 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.
8.51
+0.1 (+1.19%)
PATTERSON-UTI ENERGY INC / PTEN FAQ
Can you provide the ChartMill technical rating for PATTERSON-UTI ENERGY INC?
ChartMill assigns a technical rating of 9 / 10 to PTEN.
What is the current trend direction of PATTERSON-UTI ENERGY INC (PTEN) stock?
The current trend direction for PATTERSON-UTI ENERGY INC (PTEN) is Bullish.
What is the RSI signal for PTEN stock?
PATTERSON-UTI ENERGY INC (PTEN) has an RSI value of 63.9762. This indicates that the stock is currently neutral.
What is the short term momentum for PTEN stock?
The short term momentum for PATTERSON-UTI ENERGY INC (PTEN) is positive.
What are the support and resistance levels for PATTERSON-UTI ENERGY INC (PTEN) stock?
PATTERSON-UTI ENERGY INC (PTEN) has a support level at 8.36 and a resistance level at 8.54. Check the full technical report for our detailed analysis of PTEN support and resistance levels.