• Return to Headlines

Bearish Moving Average Cross by Parker Hannifin (PH)

By Nick Russo

Today, shares of Parker Hannifin (NYSE:PH) have crossed bearishly below their 10-day moving average of $170.25 on a volume of 161K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Parker Hannifin share prices have been bracketed by a low of $152.47 and a high of $212.80 and are now at $168.01, 10% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Parker Hannifin on July 19th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $163.15. Since that recommendation, shares of Parker Hannifin have risen 4.8%. We continue to monitor PH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses parker hannifin

Ticker(s): PH