After much a"DD"u I have PTEN holding $24 ($23.91 if you really need to know) with that said there is really no resistance up to $27.50(ish +/- .25c) That is EXTREMELY great for longs and actually good for Shorts too. Both levels mean: LONGS get out, and SHORTS get on! At this level 'Mr. ??Tuttle" can actually Scream about it's Valuations, and I won't then tell him to 'shut-it'. Now, as of Thur Feb 14th @ 12:45pm, looking at the technicals the Bollinger Bands have this exploding up to $25 at least, Rel. Strenght is not Yet Maxxed Out, and Stoch's are topping....ALL ON DECLINING VOLUMES! What does this mean?...Either the shorts are covering, or there is a real bullish sentiment in this stock and nowbody's playing. There will be one more big volume POP coming. IMHO, i think it's flying under the radar and it's about to form a top. Longs get a 5c Dividend, and a company with strong earnings in the pipeline, with the U.S. soon becoming a world leader in NG/Oil. The Drillers are all beating expectations, Rig counts are not slowing, Crude spreads are widening...OMG! Look at ALL THE POSITIVE SIGNS and the shift to OIL hasn't even caught on yet, most MM's are still playing the Tech switch. This arena is about to boom! There's still 10% Upside potential, you decide if it's worth it for you....just remember you can always BUY PUTS at $27!
$24? still a good question. Todays earnings are good, BUT i've recently added/changed my technical analysis on this stock, and as of Feb's earnings POP, the stock is channeling on lower highs and lower lows. the 200dma, is callit $19, so my feeling is the stock slows down to 200dma, which will rise to 21 and that where to stock technically should go, but if this earnings BEAT increases pricing, then resistance is 24.60 and if it breaks out, then it breaks UP to $30, i hope not, I'm currently short calls