Patterson Companies, Inc. is a healthcare stock providing medical supplies primarily in the business of veterinary and dental products. As a provider of health care products will it manage to put in some gains? Typically, in times of a recession, healthcare products offer a defensive play as consumers still generally prioritise healthcare expenditure. So, as a provider of health care products will it manage to put in some gains?
There are a few pronounced seasonal patterns to be aware of ahead of the Patterson Companies’ earnings before Wednesday’s open. From June 26 through to July 30 the stock has gained 66% of the time for an average return of 1.45%. On the weekly chart, the price is running up to a key resistance level ahead of a period of seasonal weakness starting in August. Is that a potential dip worth buying ahead of the stronger seasonal pattern at the end of October?
Major Trade Risks: The main risk would be if the Patterson Companies’ earnings are a major disappointment, but a deep dip could potentially provide a longer-term buying opportunity.
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