September 17, 2015

PTEN: Patterson-UTI Energy technical analysis charts

On Wednesday, compared to Tuesday, price action opened higher (14.58, vs

Tuesday’s close of 14.44), saw a higher high (15.37, vs Tuesday’s high of 14.66)

and higher low (14.48, vs Tuesday’s low of 14.21); and closed higher (14.88, vs

Tuesday’s close of 14.44). The day’s range was 89 ticks.

On the 20-DAY MOVING AVERAGE ENVELOPE CHART below, price action rose

towards the top of the 20 day moving average envelope (14.72). The parameters

of the envelope (14.27-15.16) are pointing lower.

The RSI (46.99) below is in neutral mode between the key 20 (oversold) and 80

(overbought) levels.

September 17, 2015

The MACD 12 day moving average is above the MACD 26 day moving average;

both are above zero and falling.

The Slow Stochastics, below, are in negative mode, with the K line below the D

line.

The Commodity Channel Index (18.31), below, is in positive mode above the

oversold -200 level.

On the DAILY BOLLINGER BANDS CHART below, Wednesday represents the 10th

consecutive close above the middle of the Bollinger Band envelope (14.72). The

September 17, 2015

Bollinger Bands (13.18-16.25) are converging; and narrowed from a width of 353

ticks on Tuesday to a width of 307 ticks on Wednesday.

On the 5 AND 20 DAY MOVING AVERAGES CHART below, the 5 day moving

average (14.44, moving up) is below the 20 day moving average (14.72, moving

down); in negative mode. The 3-50 day strip of moving averages ranges from the

5 day moving average (14.44) at the bottom of the range to the 50 day moving

average (16.14) at the top of the range.

September 17, 2015

The Parabolic Stop and Reverse (15.72) below is in the 6th day of sell mode.

On the WEEKLY BOLLINGER BANDS CHART below, last week represents the 8th

consecutive close below the middle of the Bollinger Bands envelope (17.87). The

Bollinger Bands (12.87-22.87) are pointing lower; contracting from a width of

1,036 ticks on Tuesday to a width of 1,000 ticks on Wednesday.