When (PATK) Moves Investors should Listen

November 03, 2024, 12:24 pm ET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for PATK

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short PATK slightly under 123.65, target n/a, stop loss @ 124.01 Details

The technical summary data is suggesting a short of PATK as it gets near 123.65, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 124.01. 123.65 is the first level of resistance above 115.77, and by rule, any test of resistance is a short signal. In this case, if resistance 123.65 is being tested, so a short signal would exist.

Swing Trading Plans for PATK

• Buy PATK slightly over 121.5, target 123.65, Stop Loss @ 121.15 Details

If 121.5 begins to break higher, the technical summary data tells us to buy PATK just slightly over 121.5, with an upside target of 123.65. The data also tells us to set a stop loss @ 121.15 in case the stock turns against the trade. 121.5 is the first level of resistance above 115.77, and by rule, any break above resistance is a buy signal. In this case, 121.5, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short PATK slightly near 121.5, target n/a, Stop Loss @ 121.85. Details

The technical summary data is suggesting a short of PATK if it tests 121.5 with a downside target of n/a. We should have a stop loss in place at 121.85 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 121.5, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for PATK

• Buy PATK slightly over 117.52, target 121.5, Stop Loss @ 117.25 Details

If 117.52 begins to break higher, the technical summary data tells us to buy PATK just slightly over 117.52, with an upside target of 121.5. The data also tells us to set a stop loss @ 117.25 in case the stock turns against the trade. 117.52 is the first level of resistance above 115.77, and by rule, any break above resistance is a buy signal. In this case, 117.52, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short PATK slightly near 117.52, target n/a, Stop Loss @ 117.79. Details

The technical summary data is suggesting a short of PATK if it tests 117.52 with a downside target of n/a. We should have a stop loss in place at 117.79 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 117.52, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  Patrick Industries Inc. (PATK) available here: PATK.

PATK Ratings for November 03:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	123.65
P2	117.52	121.5	136.54
P3	125.79	130.72	149.51

AI Generated Signals for PATK

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How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  Patrick Industries Inc. (NASDAQ: PATK) report below is a real world example. Included are trading plans for PATK, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.