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AI Analysis of PTEN
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Patterson-UTI Energy stock price up 0.90% on Friday
(Updated on Jun 21, 2024)

Sell candidate since May 22, 2024 Loss -8.01% PDF

The Patterson-UTI Energy stock price gained 0.90% on the last trading day (Friday, 21st Jun 2024), rising from $10.01 to $10.10. During the last trading day the stock fluctuated 2.28% from a day low at $9.89 to a day high of $10.11. The price has been going up and down for this period, and there has been a -2.42% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 million more shares were traded than the day before. In total, 27 million shares were bought and sold for approximately $267.98 million.

The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -15.73% during the next 3 months and, with a 90% probability hold a price between $8.17 and $9.17 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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PTEN Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 2.75%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Patterson-UTI Energy stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $10.65. On a fall, the stock will find some support from the short-term average at $10.04. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Patterson-UTI Energy stock

Patterson-UTI Energy finds support from accumulated volume at $10.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.225 between high and low, or 2.28%. For the last week, the stock has had daily average volatility of 2.69%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PTEN) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Patterson-UTI Energy to open at $10.03, and during the day (based on 14 day Average True Range), to move between $9.77 and $10.43, which gives a possible trading interval of +/-$0.333 (+/-3.30%) up or down from last closing price. If Patterson-UTI Energy takes out the full calculated possible swing range there will be an estimated 6.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $10.01 (0.89%) than the resistance at $10.59 (4.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Patterson-UTI Energy stock A Buy?

Patterson-UTI Energy holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.171 Sell Candidate Unchanged

Predicted Opening Price for Patterson-UTI Energy of Monday, June 24, 2024

Fair opening price June 24, 2024 Current price
$10.03 ( 0.677%) $10.10

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for PTEN

Fibonacci Support & Resistance Levels

Level Price
R3 10.26 1.55%
R2 10.17 0.700%
R1 10.12 0.174%
Price 10.10
S1 9.95 -1.53%
S2 9.89 -2.05%
S3 9.81 -2.90%

Accumulated Volume Support & Resistance Levels

Level Price
R3 11.26 11.49%
R2 11.00 8.91%
R1 10.59 4.85%
Price 10.10
S1 10.01 -0.89%
S2 9.86 -2.38%
S3 9.83 -2.67%

PTEN Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 May 01, 2024 Jun 03, 2024 Jun 17, 2024 $0.0800 0.81%
2 Feb 14, 2024 Feb 29, 2024 Mar 15, 2024 $0.0800 0.693%
3 Nov 07, 2023 Nov 30, 2023 Dec 15, 2023 $0.0800 0.723%
4 Jul 26, 2023 Sep 06, 2023 Sep 21, 2023 $0.0800 0.555%
5 Apr 26, 2023 May 31, 2023 Jun 15, 2023 $0.0800 0.641%

FAQ

What is the symbol for Patterson-UTI Energy Stock and on which exchange is it traded?
The symbol for Patterson-UTI Energy is PTEN and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Patterson-UTI Energy Stock?
Patterson-UTI Energy holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

How to buy Patterson-UTI Energy Stock?
Patterson-UTI Energy Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Patterson-UTI Energy Stock.

What's the current price of Patterson-UTI Energy Stock?
As of the end of day on the Jun 21, 2024, the price of an Patterson-UTI Energy (PTEN) share was $10.10.

What is the 52-week high and low for Patterson-UTI Energy Stock?
The 52-week high for Patterson-UTI Energy Stock is $16.18 and the 52-week low is $9.68.

What is the market capitalization of Patterson-UTI Energy Stock?
As of the Jun 21, 2024, the market capitalization of Patterson-UTI Energy is 4.021B.

When is the next earnings date for Patterson-UTI Energy?
The upcoming earnings date for Patterson-UTI Energy is Jul 24, 2024.
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About Patterson-UTI Energy

Patterson-UTI Energy Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its contract drilling services primarily in west Texas, Appalachia, Rockies, Oklahoma, South Texas, East... PTEN Profile

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