Patterson-UTI Energy Inc

PTEN remains in a Stage 2 advancing uptrend with clear higher highs and higher lows above rising EMAs. Recently, price has pulled back into the 9/21 EMA zone following early-September exhaustion signs, offering a tactical entry opportunity. Medium-term structure and momentum support a bullish bias, while short-term exhaustion risk warrants buying into the pullback. A sustained break below the rising EMA zone would invalidate the bullish setup.

• ↑Q2 2026 revenue up 10% to $1.23 B; adjusted EBITDA $232 M.
• ↑New contract pricing rose 10–15% sequentially amid tight rig supply.
• ↓Q2 net loss $20 M ($0.05/sh) including non-cash exit charges.