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Downtrend Broken Resist.Archive
- 9/22/2023 -
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Parker-Hannifin (PH) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Parker-Hannifin (PH). During the week, the PH dropped -4.82 points, or -1.23%, and closed at 387.30 on Friday, September 22, 2023. Weekly volume was -26% below 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 428.16 on August 9, 2023. PH gained -423.72 points, or -9543.24%, in 1712 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (96.40) 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 August 9, 2023 at 428.16 and reached 380.74 on September 22, 2023. PH lost 47.42 points, or 11.08%, in 6 weeks. The price is now at the 13.83% retracement level.
 Weekly Technical Indicators: [See PH weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 September 5, 2023 at 423.16 and reached 380.74 on September 22, 2023. PH lost 42.42 points, or 10.02%, in 17 days. The price is now at the 15.46% retracement level.
 Daily Technical Indicators: [See PH daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. 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. Daily Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 September 6, 2023. This is an indication that the short-term trend is down.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
 Candlestick pattern: [See PH candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.
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