Jun. 8 at 2:43 PM
$PTEN continues to respect its ascending support trendline, aligned with the rising 50 EMA, marking an important demand zone
To start the week, price formed a potential signal candle with an inside-range session, showing indecision as buyers and sellers battle near support
Psychologically, bulls have repeatedly stepped in at this level, and another successful defense could set up a fresh pivot low reversal, but confirmation is key
If buyers follow through tomorrow and break above today’s range, it would increase the odds that support holds and a new leg higher may be developing
Until then, patience is recommended while waiting for price to confirm the setup
