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Bullish Moving Average Cross by Parker Hannifin (PH)

By Shiri Gupta

Today, shares of Parker Hannifin (NYSE:PH) have crossed bullishly above their 10-day moving average of $116.03 on a volume of 273K 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.

Over the past year, Parker Hannifin has traded in a range of $100.32 to $130.44 and is now at $116.50, 16% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Parker Hannifin on July 28th, 2014 by issuing a Downtrend alert when the shares were trading at $121.63. Since that call, shares of Parker Hannifin have fallen 5.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses parker hannifin

Ticker(s): PH