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Bearish Moving Average Cross by Parker Hannifin (PH)

By Amy Schwartz

Parker Hannifin (NYSE:PH) shares have crossed bearishly below their 10-day moving average of $114.58 on a volume of 151K 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, shares of Parker Hannifin have traded between a low of $83.32 and a high of $125.33 and are now at $113.77, which is 37% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Parker Hannifin on January 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $91.44. Since that recommendation, shares of Parker Hannifin have risen 26.3%. 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