From a technical perspective, Patterson-UTI (PTEN Quick QuotePTEN - Free Report) is looking like an interesting pick, as it just reached a key level of support. PTEN recently overtook the 20-day moving average, and this suggests a short-term bullish trend.

A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.

Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.

PTEN has rallied 10.3% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests PTEN could be on the verge of another move higher.

Looking at PTEN's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 5 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.

Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on PTEN for more gains in the near future.