The Greedy Trader Weekly Analysis
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Archive
- 6/7/2019
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Parker-Hannifin
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Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Broken trend resistance lineStochastic has raised above the signal lineDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week after 6 consecutive negative weeks for the Parker-Hannifin (PH). During the week, the PH gained 13.22 points, or 8.68%, and closed at 165.54 on Friday, June 7, 2019. Weekly volume was -12% below average.

PH is a member of Industrial Goods Sector. Industrial Goods is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See PH long-term trend chart]
A long-term uptrend had started on October 17, 1990 at 4.44 and reached 212.80 on January 16, 2018. PH gained -208.36 points, or -4692.79%, in 1421 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (84.80) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See PH medium-term trend chart]
A medium-term downtrend had started on January 16, 2018 at 212.80 and reached 140.82 on December 24, 2018. PH lost 71.98 points, or 33.83%, in 48 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 126.74 and resistance is at 176.27. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See PH weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since May 17, 2019. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See PH short-term trend chart]
A short-term downtrend had started on April 22, 2019 at 190.97 and reached 152.18 on May 31, 2019. PH lost 38.79 points, or 20.31%, in 39 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (141.03) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.

Daily Technical Indicators: [See PH daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.32
Williams' Percentage Range (W%R) 49.20
Lane's Stochastic (%D-Slow) 74.49
Greed/Fear Indicator (GFI) 59.19
Moving Average Converg./Diverg. (MACD) -4.72
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.38
Williams' Percentage Range (W%R) 71.50
Lane's Stochastic (%D-Slow) 20.24
Greed/Fear Indicator (GFI) 32.05
Moving Average Converg./Diverg. (MACD) 1.82
Trading Signals
Description Value Chart
Monthly Trendline Support 181.23
Quarterly Trendline Resistance 176.27
Upper Bollinger Band 174.45
50 Day Moving Average 173.84
Price 165.54
Daily Stochastic Crossing 164.80
20 Day Moving Average 162.34
Weekly Stochastic Crossing 157.77
Yearly Trendline Resistance 154.65
Parabolic System 154.18
Weekly Trendline Resistance 153.29
Lower Bollinger Band 153.03
Weekly Trendline Support 141.03
Sector and Industry
Description Name Rank
Sector Industrial Goods 8
Industry Industrial Equip/Componts 51
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 152.18
Low Date 05/31/2019
High 166.81
High Date 06/07/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 153.29
Support 141.03
High 190.97
High Date 04/22/2019
Low 152.18
Low Date 05/31/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 202.80
Support 181.23
Low 140.82
Low Date 12/24/2018
High 190.97
High Date 04/22/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 176.27
Support 126.74
High 212.80
High Date 01/16/2018
Low 140.82
Low Date 12/24/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 154.65
Support 84.80
Low 4.44
Low Date 10/17/1990
High 212.80
High Date 01/16/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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