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Patterson Companies Inc.
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|It was a first positive week for the Patterson Companies Inc. (PDCO). During the week, the PDCO gained 0.74 points, or 3.52%, and closed at 21.76 on Friday, June 7, 2019. It was the best weekly gain since March 1, 2019. Weekly volume was -64% below average. |
Long-term trend: [See PDCO long-term trend chart]
A long-term downtrend had started on November 27, 2018 at 26.60 and reached 18.94 on December 27, 2018. PDCO lost 7.66 points, or 28.80%, in 4 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Medium-term trend: [See PDCO medium-term trend chart]
A medium-term downtrend had started on March 1, 2019 at 23.82 and reached 20.80 on June 3, 2019. PDCO lost 3.02 points, or 12.68%, in 13 weeks. The price is now at the 31.79% retracement level.
Weekly Technical Indicators: [See PDCO weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since February 1, 2019. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
Short-term trend: [See PDCO short-term trend chart]
A short-term uptrend had started on June 3, 2019 at 20.80 and reached 22.19 on June 5, 2019. PDCO gained -1.39 points, or -6.68%, in 2 days. The price is now at the 30.94% retracement level.
Daily Technical Indicators: [See PDCO daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since May 21, 2019. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.