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After Yesterday's Decline of 1.25%, Parker Hannifin Offers Investors Better Value

By Shiri Gupta

Parker Hannifin (NYSE:PH) traded in a range yesterday that spanned from a low of $162.10 to a high of $165.80. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $164.03 on volume of 253,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Parker Hannifin. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Parker Hannifin in search of a potential trend change.

Parker Hannifin share prices have moved between a 52-week high of $193.19 and a 52-week low of $140.82 and are now trading 16% above that low price at $163.27 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

Keywords: rebounders parker hannifin

Ticker(s): PH