Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Spiked Up 0.8% – Here’s Why

In its latest trading session, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) spiked up by 0.8% – here is what that looked like (as of 2020-01-06):

What’s the reason for these moves? To understand this better, it is helpful to analyze some technical indicators. The most interesting and telling are these ones:

A Money Flow Index (MFI) of 100.0, a Relative Strength Index (RSI) of 50.0, a True Strength Index (TSI) of 100.0, a Moving Average Convergence Divergence (MACD) of -0.003, an Average Directional Movement Index (ADX) of unknown, an Average True Range (ATR) of 0.26, an Accumulation/Distribution Index (ADI) of 0.26, an On-Balance Volume (OBV) of 206.735, and a Chaiikin Money Flow (CMF) of -10.49. 4.474

Now let’s plug these indicators in. According to Trading View, we can conclude the following:

So when putting all the technical indicators together, this is what you get. And finally, make sure to DO YOUR OWN RESEARCH! Take the above with a grain of salt, and do your own research.