Patterson-UTI Energy Inc

PTEN is in a Stage 4 decline characterized by persistent lower highs and lower lows under supply dominance. Although an extreme oversold bounce off the 200-day SMA has offered a short-term lift, the medium-term tradable side remains bearish. Rallies into the declining 9 and 21 EMA zone represent optimal sell points, so we recommend selling now into these dynamic resistances.

• ↑Q1 revenue of $1.117B and $205M adjusted EBITDA indicate resilience.
• ↑Investing in Emerald natural gas rigs aligns with LNG growth.
• ↓Q1 net loss $25M ($0.06/share) weighs on margin recovery.