Weekly engulfing breaching $20 for Patterson-UTI Energy (PTEN)

Last week Patterson-UTI Energy finished with bullish engulfing which pierced up critical price of $20 for the share. This resulted in price bouncing off the lower boundary of the channel which now has every chance to extend its upward motion.
Fundamentally oil sector companies are recovering the losses which were incurred due to the low oil prices This is the reason why some fundamentalist are now calling to purchase the shares of energy sector and estimate the energy sector to outperform.

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