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Bearish Moving Average Cross by Parker Hannifin (PH)

By Shiri Gupta

Today, shares of Parker Hannifin (NYSE:PH) have fallen below their 10-day MA of $164.72 on a volume of 230K shares. Swing traders may find 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 $167.12 and a 52-week low of $99.10 and are now trading 65% above that low price at $163.10 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

SmarTrend recommended that subscribers consider buying shares of Parker Hannifin on June 2nd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $160.07. Since that recommendation, shares of Parker Hannifin have risen 3.7%. 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