• Return to Headlines

Parker Hannifin Falls 1.25% on Heavy Volume: Watch For Potential Rebound

By David Diaz

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.

Over the past year, Parker Hannifin has traded in a range of $140.82 to $193.19 and is now at $163.27, 16% above that low. The 200-day and 50-day moving averages have moved 0.06% lower and 0.37% lower over the past week, respectively.

Keywords: rebounders parker hannifin

Ticker(s): PH