PATK Technical Analysis - PATRICK INDUSTRIES INC

Technical Rating and Analysis

We assign a technical rating of 5 out of 10 to PATK. PATK has been an average performer in the overall market. We also notice some doubts in the very recent evolution, but in the medium term things are still fine.

PATK is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.

The short term is neutral, but the long term trend is still positive. Not much to worry about for now.

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.

When compared to the yearly performance of all other stocks, PATK outperforms 56% of them, which is more or less in line with the market.

PATK is an average performer in the Automobile Components industry, it outperforms 47% of 81 stocks in the same industry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

PATRICK INDUSTRIES INC / PATK Weekly stock chart

PATRICK INDUSTRIES INC / PATK Daily stock chart

Setup Rating and Analysis

PATK has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 103.82, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

76.41

117.20

3 important support areas can be observed.

A support zone ranging from 102.33 to 103.82. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @84.54 from a trend line in the weekly time frame.
Support @77.18 from a horizontal line in the weekly time frame.

When analyzing the resistance we notice 2 important areas.

Resistance @114.07 from a horizontal line in the daily time frame.
A resistance zone ranging from 116.04 to 116.04. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

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Technical Indicator Signal Analysis

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	NEUTRAL	NEUTRAL	The short term trend for PATK is neutral.
ChartMill Relative Strength	56.42	NEUTRAL	PATK is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of PATK is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	MIXED	The current price of PATK is below 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)	41.23	NEUTRAL	The RSI value for PATK is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.44	NEGATIVE	The MACD value suggests PATK has a negative trend, although the MACD value is rising.
Stochastics (14,3)	21.37	NEUTRAL	The Stochastics value for PATK is a neutral value.
Average True Range in percent/ATR (20)	2.77	MEDIUM VOLATILITY	The ATR as a percentage value for PATK suggests some volalility.
Average Directional Index/ADX (14)	20.39	NEUTRAL	The ADX value for PATK suggests a possible start of a new trend.