PATRICK INDUSTRIES INC (PATK) Stock Technical Analysis
NASDAQ:PATK • US7033431039
Overall PATK gets a technical rating of 7 out of 10. In the last year, PATK was one of the better performers, but we do observe some doubts in the very recent evolution.
- In the last month PATK has a been trading in the 125.03 - 148.50 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- Looking at the yearly performance, PATK did better than 84% of all other stocks.
- 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.
- The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.
- PATK is part of the Automobile Components industry. There are 41 other stocks in this industry, PATK did better than 62% of them.
Although PATK has an excellent technical rating, the quality of the presented setup is not ideal 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.
More info and screens
88.45
When analyzing the support we can see 6 important areas.
- A support zone ranging from 128.36 to 128.36. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @122.56 from a trend line in the daily time frame.
- Support @111.10 from a trend line in the weekly time frame.
- Support @105.19 from a trend line in the daily time frame.
- Support @95.81 from a horizontal line in the daily time frame.
- Support @89.34 from a trend 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 | DOWN | NEGATIVE | The short term trend for PATK is down. |
| ChartMill Relative Strength | 84.62 | POSITIVE | PATK has a high relative strength, it outperformed 84.62% off all stocks 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 | 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) | 43.61 | NEUTRAL | The RSI value for PATK is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -2.13 | NEGATIVE | The MACD value suggests PATK has a negative trend. |
| Stochastics (14,3) | 13.33 | OVERSOLD | The low Stochastics value suggests PATK may be oversold. |
| Average True Range in percent/ATR (20) | 3.81 | MEDIUM VOLATILITY | The ATR as a percentage value for PATK suggests some volalility. |
| Average Directional Index/ADX (14) | 28.9 | POSITIVE | The high ADX value value for PATK suggests a strong trend. |
128.37
-0.87 (-0.67%)
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.
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 43.611. This indicates that the stock is currently neutral.
What is the buy/sell signal for PATRICK INDUSTRIES INC (PATK) stock?
The buy/sell signal for PATRICK INDUSTRIES INC (PATK) is hold as the short term and long term trends are mixed.
Can you provide the support and resistance levels for PATRICK INDUSTRIES INC?
PATRICK INDUSTRIES INC (PATK) has a support level at 128.36. Check the full technical report for our detailed analysis of PATK support and resistance levels.