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Parker Hannifin Set to Possibly Rebound After Yesterday's Selloff of 3.37%

By Nick Russo

Parker Hannifin (NYSE:PH) traded in a range yesterday that spanned from a low of $148.70 to a high of $152.42. Yesterday, the shares fell 3.4%, which took the trading range below the 3-day low of $154.60 on volume of 1.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Parker Hannifin share prices have moved between a 52-week high of $215.94 and a 52-week low of $93.00 and are now trading 58% above that low price at $146.87 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.1%.

Keywords: rebounders parker hannifin

Ticker(s): PH