's Chart of the Day - Patterson-Uti Energy - Oct 15, 2016

The Chart of the Day belongs to Patterson-Uti Energy.   I found the well drilling stock by using Barchart to sort the Russell 3000 Index stocks first for the most frequent number of new highs in the last month, then again for techical buy signals of 80% or more.  Since the Trend Spotter signaled a buy in 9/29 the stock gained 10.66%.

Patterson is one of the leading providers of domestic land drilling services to major & independent oil & natural gas companies. The Company focuses its operations in Texas & southeast New Mexico. The Company currently has a drilling fleet of 114 drilling rigs, 108 of which are currently operable. The Company is also engaged in the development, exploration, acquisition & production of oil and natural gas; however, due to the substantial growth in the Company's drilling contract operations, the oil & natural gas operations are no longer material to the Company's overall operations.

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