PATRICK INDUSTRIES INC (PATK) Stock Technical Analysis
NASDAQ:PATK - Nasdaq - US7033431039 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to PATK. PATK has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
Both the short term and long term trends are positive. This is a very positive sign.
PATK is one of the better performing stocks in the Automobile Components industry, it outperforms 80% of 81 stocks in the same industry.
PATK is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so PATK is lagging the market slightly.
In the last month PATK has a been trading in the 82.24 - 93.12 range, which is quite wide. It is currently trading near the high of this range.
Looking at the yearly performance, PATK did better than 81% of all other stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
Besides having an excellent technical rating, PATK also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 92.66. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 90.42, a Stop Loss order could be placed below this zone.
More info and screens
76.41
98.96
We found 5 important support areas.
- A support zone ranging from 87.41 to 90.42. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 85.20 to 85.97. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 82.61 to 83.35. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @78.60 from a horizontal line in the weekly time frame.
- Support @77.18 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 92.66 to 92.99. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @95.76 from a horizontal line in the daily time frame.
- A resistance zone ranging from 97.97 to 97.98. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for PATK is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PATK is up. |
| ChartMill Relative Strength | 81.72 | POSITIVE | PATK has a high relative strength, it outperformed 81.72% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PATK is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of PATK is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of PATK is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.64 | NEUTRAL | The RSI value for PATK is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests PATK has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 74.44 | NEUTRAL | The Stochastics value for PATK is a neutral value. |
| Average True Range in percent/ATR (20) | 2.9 | MEDIUM VOLATILITY | The ATR as a percentage value for PATK suggests some volalility. |
| Average Directional Index/ADX (14) | 15.51 | NEGATIVE | The low ADX value for PATK suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 93.00 | 87.39 | 5.61 (6.03%) | 16.58% |
| An entry @93.00. This is a Buy Stop order right above the resistance zone. | An exit @87.39. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 5.61 points, which is 6.03%. | For a 1.00% total portfolio risk, you can invest 16.58% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
91.62
+0.51 (+0.56%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustryAutomobile Components
Performance
% Chg0.56%
1 Week1.69%
2 Weeks0.6%
1 Month6.41%
3 Month9.2%
6 Month9.72%
12 Month26.61%
2 Year71.79%
3 Year165.1%
5 Year124.38%
10 Year441.77%
15 Year24971.6%
Volatility
ATR(14)2.79
ATR(20)%2.9%
ATR Inc-15.1%
Range Today1.72
ADR(20)2.65
ADR(20)%2.89%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS81.72
Mansfield-0.01
10 Day High93.12
10 Day Low87.4
20 Day High93.12
20 Day Low82.24
52 Week High98.9
52 Week Low69.86
CS1 End90.42
CR1 Start92.66
Volume & EV
DER(3)1.32%
DER(5)1.02%
Volume200.50K
Volume Incr1.96%
Vol(5)286.70K
Vol(50)350.90K