• Return to Headlines

Bearish Moving Average Cross by Patterson-UTI Energy (PTEN)

By David Diaz

Today, shares of Patterson-UTI Energy (NASDAQ:PTEN) have crossed bearishly below their 10-day moving average of $26.08 on a volume of 446K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Patterson-UTI Energy have traded between a low of $10.94 and a high of $29.76 and are now at $25.91, which is 137% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has risen 0.2%.

SmarTrend is monitoring the recent change of momentum in Patterson-UTI Energy. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Patterson-UTI Energy in search of a potential trend change.

Keywords: moving crosses patterson-uti energy

Ticker(s): PTEN