• Return to Headlines

Patterson-UTI Energy Crosses Below its 10-day MA (PTEN)

By Amy Schwartz

Today, shares of Patterson-UTI Energy (NASDAQ:PTEN) have fallen below their 10-day MA of $20.25 on a volume of 902K shares. This may provide short-term investors a chance 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 $19.41, which is 77% above that low price. The 200-day and 50-day moving averages have moved 0.18% higher and 1.46% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Patterson-UTI Energy on March 8th, 2017 by issuing a Downtrend alert when the shares were trading at $26.03. Since that call, shares of Patterson-UTI Energy have fallen 21.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses patterson-uti energy

Ticker(s): PTEN