The Greedy Trader Weekly Analysis
Sign In Jun 14, 2024
Skip Navigation Links
Share
Number of records: 10
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

Archive
- 6/7/2024 -
Sign In to see current Signals.

Parker-Hannifin (PH) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Broken trend resistance lineBroken trend resistance line
Daily :Williams' Percentage Range is oversoldStochastic signal line moved above oversold area
Move cursor over the icon to see details.

It was the negative week for the Parker-Hannifin (PH). During the week, the PH dropped -15.38 points, or -2.89%, and closed at 516.14 on Friday, June 7, 2024. Weekly volume was 22% above average.

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 (98.66) 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 (422.84) 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 technical indicators are neutral.

The weekly MACD line is below its signal line since April 26, 2024. The distance between MACD and the signal line is near its high and getting bigger. 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 May 10, 2024 at 568.81 and reached 506.18 on June 3, 2024. PH lost 62.63 points, or 11.01%, in 24 days. The chart has formed a Falling Channel chart pattern.

Daily Technical Indicators: [See PH daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The daily MACD line is below its signal line since May 15, 2024. This is an indication that the short-term trend is down.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.18
Williams' Percentage Range (W%R) 88.30
Oversold
Lane's Stochastic (%D-Slow) 26.17
Greed/Fear Indicator (GFI) 23.33
Moving Average Converg./Diverg. (MACD) -6.20
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.83
Williams' Percentage Range (W%R) 48.40
Lane's Stochastic (%D-Slow) 42.76
Greed/Fear Indicator (GFI) 46.88
Moving Average Converg./Diverg. (MACD) 32.22
Trading Signals
Description Value Chart
Monthly Trendline Resistance 567.83
Upper Bollinger Band 559.72
Monthly Trendline Support 546.24
50 Day Moving Average 543.45
20 Day Moving Average 534.13
Weekly Stochastic Crossing 529.65
Parabolic System 529.41
Price 516.14
Daily Stochastic Crossing 514.24
Lower Bollinger Band 500.88
Quarterly Trendline Resistance 495.42
Quarterly Trendline Support 422.84
Sector and Industry
Description Name Rank
Sector Industrials 3
Industry Industrial Machinery 41
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Channel
High 568.81
High Date 05/10/2024
Low 506.18
Low Date 06/03/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 570.15
High Date 04/04/2024
Low 506.18
Low Date 06/03/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Support
Resistance 567.83
Support 546.24
Low 362.49
Low Date 10/31/2023
High 570.15
High Date 04/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 495.42
Support 422.84
Low 230.44
Low Date 06/17/2022
High 570.15
High Date 04/04/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 222.60
Support 98.66
Low 4.44
Low Date 10/17/1990
High 570.15
High Date 04/04/2024
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.