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Analysis: #NASDAQ $PDCO

Case 287 #Patterson Companies Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#PDCO 1/4
Chart 1
Monthly Chart: The loss of the combined #pivot and the 1996 #trendline support at 25.27 has seen the bears take control and price has been unable to reclaim that level. The #Fib. 0.786 at .....

PDCO 2/4
..... 12.90 has held, for the moment, but we envisage further future losses, especially on a close below trendline #support at 11.40.

PDCO 3/4
Chart 2
Daily Chart: Immediate #resistance is seen by the #confluence of the #SMA 50 and trendline at 16.73 with the SMA 200 hovering at 18.93.

The #Strategy is printed on the image.

$PDCO 4/4
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Related hashtags

#NASDAQ #Patterson #PDCO #pivot #trendline #Fib #support #resistance #confluence #SMA #Strategy

More from @malteseinvest see all

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malteseinvestor
@malteseinvest
Analysis: #NASDAQ $ADI

Case 289 #Analog_Devices, Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#ADI 1/4
Chart 1
Weekly Chart: Since recording a new all time high of 127.30, price reversed, closed below the June 2019 #trendline and now unable to break back above. #Momentum is negative and there's a big risk that price trades below the .....

ADI 2/4
..... 92.40 #pivot, the #SMA 200 currently at 92.06.A close below the latter will target the #Fib. 0.382 at 85.04 (15.29-127.30).

ADI 3/4
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malteseinvestor
@malteseinvest
Analysis: #NYSE $NEWR

Case 288 #New_Relic Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#NEWR 1/4
Chart 1
Weekly Chart: Price has reclaimed broken #trendline #support and #Fib 0.618 at 56.44 and is currently running into #SMA 200 and 50 resistances at 65.60/76 respectively faltering. A close above .....

NEWR 2/4
..... 73.78 will target firm #resistance between 92.50 - 100.30. and then 103.40.

NEWR 3/4
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malteseinvestor
@malteseinvest
Analysis: #NYSE $WELL

Case 286 #Welltower Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#WELL 1/4
Chart 1
Monthly Chart: A new all time high of 93.17 (Oct. 2019) and from there a spectacular reversal took place - wiping out all gains built since 2002. Support at #Fib 0.786 at 25.44 has temporarily contained the .....

WELL 2/4
..... downside but the inability to regain control of the 8 year range base at 52.40 weighs heavily. Strong #support is seen between 16.82-12.00 (Fibs. 0.886 & 0.942)

WELL 3/4
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