[May 22, 2012] Shares of PTEN Down 17.6% Since Downtrend Call on Shares Tweet May 22, 2012 (SmarTrend(R) Spotlight via COMTEX) -- SmarTrend identified a Downtrend for Patterson-UTI Energy (NASDAQ:PTEN) on January 17th, 2012 at $18.85. In approximately 4 months, Patterson-UTI Energy has returned 17.59% as of today's recent price of $15.53. Patterson-UTI Energy share prices have moved between a 52-week high of $34.09 and a 52-week low of $14.36 and are now trading 8% above that low price at $15.53 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 1.5%. Patterson-UTI Energy, Inc. provides land-based drilling services to major and independent oil and natural gas companies. The Company conducts drilling operations in Texas, New Mexico, Utah, Oklahoma, Louisiana, and western Canada. Patterson-UTI is also involved in pressure pumping, oil and gas exploration and production, and drilling and completion fluids services. SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Patterson-UTI Energy. Log in and add Patterson-UTI Energy (PTEN) to your watchlist today so you can receive a real-time alert when the shares are about to change trend. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]