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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Parker-Hannifin (PH) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the Parker-Hannifin (PH). During the week, the PH gained 10.88 points, or 1.96%, and closed at 566.67 on Friday, April 5, 2024. Weekly volume was -21% below average.
PH is a member of Industrials Sector. Industrials is the 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 570.15 on April 4, 2024. PH gained -565.71 points, or -12741.22%, in 1746 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (98.10) 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 uptrend had started on June 17, 2022 at 230.44 and reached 570.15 on April 4, 2024. PH gained -339.71 points, or -147.42%, in 93 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (405.55) 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 medium-term trend.
 Weekly Technical Indicators: [See PH weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Relative Strength Index and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly Relative Strength Index and Lane's Stochastic. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See PH short-term trend chart]
A short-term uptrend had started on March 21, 2024 at 561.13 and reached 570.15 on April 4, 2024. PH gained -9.02 points, or -1.61%, in 14 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See PH daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
The price touches the upper Bollinger Band. 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.
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