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Bearish Moving Average Cross by Parker Hannifin (PH)

By David Diaz

Today, shares of Parker Hannifin (NYSE:PH) have crossed bearishly below their 10-day moving average of $165.08 on a volume of 186K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Parker Hannifin has traded in a range of $99.10 to $167.50 and is now at $163.66, 65% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has remained constant.

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