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Patterson-UTI Energy Bearish Moving Average Crossover Alert (PTEN)

Written on Thu, 03/04/2010 - 1:29pm
By Chip Brian

Today, shares of Patterson-UTI Energy (NASDAQ:PTEN) have crossed bearishly below their 10-day moving average of $15.40 on volume of 1 million 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. Watch for a close below this moving average level for confirmation.
SmarTrend issued a Downtrend Alert for Patterson-UTI Energy on January 29, 2010 at $15.93. In approximately 1 month, Patterson-UTI Energy has returned 4% as of today's recent price of $15.29.
We will continue to monitor PTEN's share price relative to this moving average.

Keywords: Stock research report chart fundamental technical analysis

Ticker(s): PTEN

Contact Chip Brian



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