Bearish Moving Average Cross by Parker Hannifin (PH)
Parker Hannifin (NYSE:PH) crossed under its 10-day moving average of $113.02 on a volume of 121K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Parker Hannifin share prices have moved between a 52-week high of $125.33 and a 52-week low of $83.32 and are now trading 35% above that low price at $112.26 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.
SmarTrend is monitoring the recent change of momentum in Parker Hannifin. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Parker Hannifin in search of a potential trend change.
Keywords: moving crosses parker hannifin