Patterson-UTI Energy provides onshore contract drilling services to independent oil and natural gas operators in North America. Price action has delcined 95% within a 3-month period in a seemingly a-b-c Elliott retrace after completing a 5-wave impulse move during Jan 2008 to Jul 2008. An entrace into a buy position with a stop on close below $19.09 may serve as long-term low-risk trade.
No comments:
Post a Comment