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Parker Hannifin Rises 1.19% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

Parker Hannifin (NYSE:PH) traded in a range yesterday that spanned from a low of $177.04 to a high of $179.64. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $177.98 on volume of 281,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 $212.80 and a 52-week low of $99.10 and are now trading 80% above that low price at $178.55 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has remained constant.

Keywords: rebounders parker hannifin

Ticker(s): PH