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Parker Hannifin Set to Possibly Pullback After Yesterday's Rally of 1.80%

By James Quinn

Parker Hannifin (NYSE:PH) traded in a range yesterday that spanned from a low of $158.18 to a high of $161.97. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $160.73 on volume of 426,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Parker Hannifin have traded between a low of $152.47 and a high of $212.80 and are now at $161.14, which is 6% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.3%.

SmarTrend is tracking the current trend status for Parker Hannifin and will alert subscribers who have PH in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders parker hannifin

Ticker(s): PH