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Bullish Moving Average Cross by Parker Hannifin (PH)

By Shiri Gupta

Parker Hannifin (NYSE:PH) crossed over its 10-day moving average of $127.52 on a volume of 303K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Parker Hannifin share prices have moved between a 52-week high of $129.77 and a 52-week low of $84.50 and are now trading 51% above that low price at $127.93 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.5%.

SmarTrend recommended that subscribers consider buying shares of Parker Hannifin on July 11th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $99.83. Since that recommendation, shares of Parker Hannifin have risen 26.1%. 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