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Patterson-uti

PTEN: Long position, bullish wedge with huge profit potential 🛢There is nice setup by bullish wedge for mid/long term breakout position trade on PTEN. After more than 1year consolidation formed bullish wedge. Now price starting to pump up out of the wedge. at 15.87 level there is 1st potential to take some money of the table because there is long multi years supply zone that toping somewhere at 20.69 level ================================== Long position trade setup ================================== Entry: 12.21 Stop Loss: 10.21 Profit Target: 20.37 Trade duration: 8-12 weeks
NASDAQ:PTENLong
by Tomasgei
Patterson-UTI overflowing. PTENWe are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
NASDAQ:PTENShort
by Rykin_Capital