Patterson-UTI Energy, Inc. (NASDAQ:PTEN) MA Rating Sending Strong Sell Signal

Taking a look at some key pivot levels we note that the one month Pivot Woodie support stands at 13.735 while 1-month resistance level is at 15.125.  On the other hand shares would see support at the 1-month pivot woodie of 13.735 and resistance at 15.125.  One of the key differences in calculating Woodie’s Pivot Point to other pivot points is that the current session’s open price is used in the PP formula with the previous session’s high and low.

As we move deeper into earnings season, investors and analysts will be closely watching which companies look they are getting things right. Many investors will be following which companies beat or miss the estimates by a wide margin. Large surprise factors can cause a stock to jump or fall shortly after the actual numbers are released. Investors may also be tracking which industry leaders come out on top during the latest round of earnings reports. Tracking the sectors that are poised for growth may help give the investor a good idea for the types of stocks they may want to add to the portfolio as we get closer to the end of the current calendar year.   

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) ran -1.1618203 after opening at $13.785.  1744070 shares traded hands for the 3163367200 market cap company.  Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is a “Sell” according to the social consensus. 

Diving into some additional pivot points we note that the Fibonacci S1 stands at 13.715687 while the R1 resistance number is 14.777647.  The S1 Camarilla pivot is 13.762584 while the R1 resistance is 14.017417.  The Demark Pivot is as follows: R1 resistance is 14.505 while S1 support is 13.115.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) shares hit a high of 17.42 within the past month while touching a low point of 13.59 over the past 30 days. 

Turning to simple moving averages, Patterson-UTI Energy, Inc., the below chart outlines the current numbers:

10-Day Simple Moving Average: 14.38251
20-Day Simple Moving Average: 14.511255
30-Day Simple Moving Average: 14.71217
50-Day Simple Moving Average: 15.407602
100-Day Simple Moving Average: 16.101501
200-Day Simple Moving Average: 16.572847

Consensus Rating: Strong Sell

Turning to Bollinger Bands, the upper 20 band holds at 15.386954 while the lower is currently 13.635555.  The average volume over the past 3 months is 3037900.8 compared to the 10-day average of 3072125.

Other moving averages that have been taken into consideration in order to try to figure out the potential direction of the shares include the Hull Moving Average.  The Hull MA currently reads 13.892708.  The Positive Directional Indicator is at 18.734999.  The volume weighted moving average stands at 14.40627.  Putting all the pieces together the moving average signal for Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is a consensus “Strong Sell” signal.

Changing lanes over to oscillators, we see that the Aroon Up oscillator is currently 21.428572 while the Aroon Down shows 100.  These are useful in determining if a reversal might be in the near future.  Given the Ultimate Oscillator number of 38.110386 and Parabolic SAR number of 14.955208, combined with other variables, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has been given a consensus oscillator rating of “Neutral”. 

The stock market can be influenced by many different factors such as news, politics, earnings reports, or even company rumors. Often times the market may not react as expected to certain events. This may cause the investor to become frustrated at times. Sometimes certain market moves may seem to go against prevailing logic. This is why it can be extremely hard to predict near-term moves with any certainty. Taking a big picture look at the financial markets may help offer a clearer picture of how all the different aspects contribute to market movements. Figuring out why a certain move happened may help shed some light when the same scenario arises again in the future.  

Investors will be closely watching to see if the firm can move towards the $38.49001 time high as the Bull Bear Power number stands at -1.2352304.  

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has returned -6.9036226 after closing at $—  in the recent session.  The stock is looking to return closer to the 52-week high of $25.03.

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