Those who are looking into stocks that have made notable gains over the past month could also consider taking a closer look at the Patterson-UTI Inc (NASDAQ:PTEN) stock.
The stock has gone up by as much as 17% over the past month and that coincides with certain important developments. Earlier on this month the company made an announcement with regards to its drilling activity in the month of May 2021. Patterson-UTI revealed that as many as 72 drilling rigs were under operation during the month on average.
That said, it is also important to point out that Patterson-UTI also mentioned that the ultimate operating successes of the company depend on a range of other factors and not only on the number of drilling rigs that are under operation on average. However, the announcement did come as a boost for the Patterson-UTI stock and it remains to be seen if it can manage to hold on to its momentum in the coming weeks.
Market Reaction:
On Thursday, PTEN stock was down by 5.20% to $10.03 with more than 2.34 million shares, compared to its average volume of 2.01 million shares. The stock has moved within a range of $9.63 – 10.70 after opening the trade at $10.59. Over the past 52-week, the stock has been trading within a range of $2.38 – 10.99.
Moving Averages
| +/- EMA(20) | 9.70 (+3.40%) |
| +/- SMA(50) | 8.23 (+21.87%) |
| +/- SMA(200) | 5.93 (+69.14%) |
Pivot Points
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 8.4567 | 9.0433 | 9.5367 | 10.1233 | 10.6167 | 11.2033 | 11.6967 |
| Fibonacci | 9.0433 | 9.4559 | 9.7108 | 10.1233 | 10.5359 | 10.7908 | 11.2033 |
 stock is Up 17% In A Month: What Next?){kind=link}