PDCO closes within prior day's range after lackluster session


Patterson Companies Inc. (PDCO) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team

Highlights

PDCO fails to close above 20-day moving average
PDCO closes higher for the 2nd day in a row
PDCO closes within previous day's range after lackluster session
PDCO ends the day indecisive

Overview

Moving higher for the 2nd day in a row, PDCO finished the week -0.69% lower at 22.92 after gaining $0.05 (0.22%) today. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (PDCO as at Jul 13, 2018):

Daily technical analysis candlestick chart for Patterson Companies Inc. (PDCO) as at Jul 13, 2018

Friday's trading range was $0.52 (2.28%), that's below last trading month's daily average range of $0.97. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Prices are trading close to a key support level at 22.41. Prices are trading close to the key resistance level at 23.32. After spiking up to 23.30 during the day, Patterson Companies found resistance at the 20-day moving average at 23.03.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Selling might accelerate should prices move below the nearby swing low at 22.27 where further sell stops could get activated. As prices are trading close to July's low at 22.08, downside momentum might speed up should the share mark new lows for the month.


Market Conditions for PDCO as at Jul 13, 2018

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