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Bullish Moving Average Cross by Parker Hannifin (PH)

By Amy Schwartz

Today, shares of Parker Hannifin (NYSE:PH) have crossed bullishly above their 10-day moving average of $124.11 on a volume of 134K 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.

In the past 52 weeks, Parker Hannifin share prices have been bracketed by a low of $83.32 and a high of $125.33 and are now at $124.67, 50% above that low price. Over the past week, 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 July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $112.74. Since that recommendation, shares of Parker Hannifin have risen 9.6%. 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