Taking everything into account, PATK scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, PATK is showing a nice and steady performance.
Although PATK has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
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76.41
When analyzing the support we can see 5 important areas.
- A support zone ranging from 106.26 to 110.72. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @102.26 from a trend line in the daily time frame.
- Support @95.81 from a horizontal line in the daily time frame.
- Support @87.74 from a trend line in the weekly time frame.
- Support @77.18 from a horizontal line in the weekly time frame.
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 | 87.8 | POSITIVE | PATK has a high relative strength, it outperformed 87.8% 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) | 71.3 | OVERBOUGHT | The high RSI value suggests PATK may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.36 | POSITIVE | The MACD value suggests PATK has a positive trend. |
| Stochastics (14,3) | 89.33 | OVERBOUGHT | The high Stochastics value suggests PATK may be overbought. |
| Average True Range in percent/ATR (20) | 2.59 | MEDIUM VOLATILITY | The ATR as a percentage value for PATK suggests some volalility. |
| Average Directional Index/ADX (14) | 11.93 | NEGATIVE | The low ADX value for PATK suggests a weak or negative trend. |
119.14
+3.21 (+2.77%)
PATRICK INDUSTRIES INC / PATK FAQ
Can you provide the ChartMill technical rating for PATRICK INDUSTRIES INC?
ChartMill assigns a technical rating of 10 / 10 to PATK.
What is the current trend direction of PATRICK INDUSTRIES INC (PATK) stock?
The current trend direction for PATRICK INDUSTRIES INC (PATK) is Bullish.
What is the RSI signal for PATRICK INDUSTRIES INC (PATK) stock?
PATRICK INDUSTRIES INC (PATK) has an RSI value of 71.2989. This indicates that the stock is currently overbought.
What is the buy/sell signal for PATRICK INDUSTRIES INC (PATK) stock?
The buy/sell signal for PATRICK INDUSTRIES INC (PATK) is buy as both the short term and long term trends are positive.
Can you provide the support and resistance levels for PATRICK INDUSTRIES INC?
PATRICK INDUSTRIES INC (PATK) has a support level at 110.72. Check the full technical report for our detailed analysis of PATK support and resistance levels.