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An undervalued oil company that could explode if Trump wins !
$Patterson-UTI Energy (PTEN.US)$ Here are the stock prices since the beginning. The stock price ended this Friday at $8,17. The PE ratio has dropped from 52 to negative -3.71 following the earnings last Thursday; the Industry's PE average is 7.96. The ratio of shares held by institutions is 103%, which is very good. On September 29th there were many institutions that bought shares, as on June 29th. Not many sales.
Here we can see the Bullish signals with the 1 week chart (5 years). The price is traded below the 200EMA. Volume increased a lot. Volatility seems to want to increase since the beginning of August. Momentum still flat. Positive divergences with the RSI and the MACD. There are also Golden Crosses.
In the shorter term, in the 1 day chart, the RSI is at 52.24 right in the sweet spot and the MACD is almost "positive". Reversal soon?
Price target = 26 to 32$
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Technical & Financial Analysis, peer comparison and stock picking. Swing trades & long-term investment.
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Sung Jun Lee : 100-150
Bakster : Looks great here. Dividend soon as well.
Alanstx : What makes you think this will go up more than others?
Tom’s Jerry : Are you planning to sell this?
金涌泉96 : Haha
Kevin Matte OP Alanstx : I have no reason to believe this one is bullish over any other, but with the new federal budget policies and interest rate cuts, the upcoming federal elections, plus geopolitical tensions, some "Oil stocks" have exploded in April and early October. I am bullish on this company because of their financials as well as technical analysis. PTEN is breakeven now, have a good balance sheet a positive cash flow. Lots of recent mergers and acquisitions, institutions shares held %, and other reasons mentioned above. This is my humble opinion. I do not hold any stocks, but on my watchlist
Kevin Matte OP Tom’s Jerry : I don't hold stock, but on my watchlist
Alanstx Kevin Matte OP : Okay thanks for that!!! I see why this one could be better now I’ll keep it on the list