PATRICK INDUSTRIES INC (PATK) Stock Technical Analysis
USA - NASDAQ:PATK - US7033431039 - Common Stock
Taking everything into account, PATK scores 7 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.
Besides having an excellent technical rating, PATK also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 101.21, a Stop Loss order could be placed below this zone.
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76.41
We found 4 important support areas.
- A support zone ranging from 100.04 to 101.21. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 95.81 to 97.92. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @85.69 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 one important area.
- 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.
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 | 79.28 | POSITIVE | PATK has a high relative strength, it outperformed 79.28% 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) | DOWN | NEGATIVE | The current price of PATK is below a declining 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) | 53.08 | NEUTRAL | The RSI value for PATK is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.72 | POSITIVE | The MACD value suggests PATK has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 85.36 | OVERBOUGHT | The high Stochastics value suggests PATK may be overbought. |
| Average True Range in percent/ATR (20) | 3.25 | MEDIUM VOLATILITY | The ATR as a percentage value for PATK suggests some volalility. |
| Average Directional Index/ADX (14) | 14.46 | NEGATIVE | The low ADX value for PATK suggests a weak or negative trend. |
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 |
|---|---|---|---|
| 106.93 | 100.03 | 6.90 (6.45%) | 15.50% |
| An entry @106.93. This is a Buy Stop order right above the 10 day high. | An exit @100.03. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 6.90 points, which is 6.45%. | When investing 15.50% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
104.13
-2.34 (-2.2%)
PATRICK INDUSTRIES INC / PATK FAQ
Can you provide the ChartMill technical rating for PATRICK INDUSTRIES INC?
ChartMill assigns a technical rating of 7 / 10 to PATK.
Can you provide the trend direction for PATRICK INDUSTRIES INC?
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 53.0788. This indicates that the stock is currently neutral.
Can you provide the buy/sell signal for PATRICK INDUSTRIES INC?
The buy/sell signal for PATRICK INDUSTRIES INC (PATK) is buy as both the short term and long term trends are positive.
What is the support and resistance level for PATK stock?
PATRICK INDUSTRIES INC (PATK) has a support level at 101.21 and a resistance level at 116.04. Check the full technical report for our detailed analysis of PATK support and resistance levels.