Explanation to Bollinger's Bands

Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.

Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.

Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation

BandWidth defines the current width of the band.
%b defines the current position within the band.

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Live Samples:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.

Source: http://www.bollingerbands.com

RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of PTEN
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Weaker technical forecast for Patterson-UTI Energy as stock downgraded to Strong Sell Candidate.
(Updated on Jul 23, 2024)

Sell candidate since Jul 19, 2024 Loss -1.93% PDF

The Patterson-UTI Energy stock price fell by -0.391% on the last day (Tuesday, 23rd Jul 2024) from $10.22 to $10.18. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.20% from a day low at $10.00 to a day high of $10.22. The price has risen in 6 of the last 10 days and is up by 4.09% over the past 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 9 million shares were bought and sold for approximately $90.57 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 -9.22% during the next 3 months and, with a 90% probability hold a price between $8.66 and $9.92 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

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $10.55 and $10.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, July 17, 2024, and so far it has fallen -7.45%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

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

Patterson-UTI Energy finds support from accumulated volume at $10.10 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 $0.220 between high and low, or 2.20%. For the last week, the stock has had daily average volatility of 3.02%.

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 Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Patterson-UTI Energy to open at $10.13, and during the day (based on 14 day Average True Range), to move between $9.84 and $10.52, which gives a possible trading interval of +/-$0.344 (+/-3.38%) up or down from last closing price. If Patterson-UTI Energy takes out the full calculated possible swing range there will be an estimated 6.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $10.10 (0.79%) than the resistance at $10.36 (1.77%), 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 is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -6.260 Strong Sell Candidate Downgraded

Predicted Opening Price for Patterson-UTI Energy of Wednesday, July 24, 2024

Fair opening price July 24, 2024 Current price
$10.13 ( 0.458%) $10.18

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 10.35 1.70%
R2 10.27 0.88%
R1 10.22 0.367%
Price 10.18
S1 10.05 -1.28%
S2 10.00 -1.79%
S3 9.91 -2.62%

Accumulated Volume Support & Resistance Levels

Level Price
R3 11.00 8.06%
R2 10.59 4.03%
R1 10.36 1.77%
Price 10.18
S1 10.10 -0.786%
S2 10.09 -0.88%
S3 9.91 -2.65%

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 is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

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 Jul 23, 2024, the price of an Patterson-UTI Energy (PTEN) share was $10.18.

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 $9.52.

What is the market capitalization of Patterson-UTI Energy Stock?
As of the Jul 23, 2024, the market capitalization of Patterson-UTI Energy is 4.105B.

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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