Patterson Companies Inc: Earnings Before Wednesday’s Open

By Staff of Seasonax

Seasons, Patterns & Cycles • Jun 20, 2023 at 2:00 PM EDT

Patterson Companies is a healthcare stock providing medical supplies primarily in the business of veterinary and dental products.

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Patterson Companies (PDCO) 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.

Look at the seasonal pattern coming up. 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, 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.

There are a few pronounced seasons patterns to be aware of ahead of the companies earnings before the open on Wednesday.

Major Trade Risks: The main risk would be if the company's earnings are a major disappointment, but a deep dip could provide a longer term buying opportunity.

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