Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Fell By -2.2%, But Why?

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In its latest trading session, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) dropped by -2.2% – here is what that looked like (as of 2019-12-04):

What’s the reason for these moves? To understand this better, it is helpful to analyze some technical indicators. As we see it, you should pay the most attention to the following:

A Money Flow Index (MFI) of 51.121, a Relative Strength Index (RSI) of 50.0, a True Strength Index (TSI) of -100.0, a Moving Average Convergence Divergence (MACD) of 0.004, an Average Directional Movement Index (ADX) of unknown, an Average True Range (ATR) of 0.359, an Accumulation/Distribution Index (ADI) of 0.359, an On-Balance Volume (OBV) of 43.602, and a Chaiikin Money Flow (CMF) of 9.15. 1.267

Now let’s plug these indicators in. According to Trading View, putting it all together gets the following:

So there you have it – our analysis of Patterson-UTI Energy, Inc. (NASDAQ:PTEN). Note this is technical analysis only! You should do fundamental research as well, and do not just rely on this – we take no responsibility for any losses incurred if you buy or sell based on the above.