Parker Hannifin PH Technical Data

November 01, 2021, 21:30 pm ET, BY Rick O.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Parker Hannifin (NYSE: PH) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for PH change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if PH is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for PH too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for PH

• Buy PH slightly over 294.23 target 321.50 stop loss @ 293.38 Details

The technical summary data tells us to buy PH near 294.23 with an upside target of 321.50. This data also tells us to set a stop loss @ 293.38 to protect against excessive loss in case the stock begins to move against the trade. 294.23 is the first level of support below 300.82 , and by rule, any test of support is a buy signal. In this case, support 294.23 would be being tested, so a buy signal would exist.

• Short PH under 321.50, target 294.23, stop loss @ 322.43 Details

The technical summary data is suggesting a short of PH as it gets near 321.50 with a downside target of 294.23. We should have a stop loss in place at 322.43though. 321.50 is the first level of resistance above 300.82, and by rule, any test of resistance is a short signal. In this case, if resistance 321.50 is being tested, so a short signal would exist.

Swing Trading Plans for PH

• Buy PH slightly over 306.61, target 321.50, Stop Loss @ 305.72 Details

If 306.61 begins to break higher, the technical summary data tells us to buy PH just slightly over 306.61, with an upside target of 321.50. The data also tells us to set a stop loss @ 305.72 in case the stock turns against the trade. 306.61 is the first level of resistance above 300.82, and by rule, any break above resistance is a buy signal. In this case, 306.61, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short PH near 306.61, target 300.78, Stop Loss @ 307.5. Details

The technical summary data is suggesting a short of PH if it tests 306.61 with a downside target of 300.78. We should have a stop loss in place at 307.5 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 306.61, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for PH

• Buy PH slightly over 301.62, target 306.61, Stop Loss @ 300.92 Details

If 301.62 begins to break higher, the technical summary data tells us to buy PH just slightly over 301.62, with an upside target of 306.61. The data also tells us to set a stop loss @ 300.92 in case the stock turns against the trade. 301.62 is the first level of resistance above 300.82, and by rule, any break above resistance is a buy signal. In this case, 301.62, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short PH near 301.62, target 300.78, Stop Loss @ 302.32. Details

The technical summary data is suggesting a short of PH if it tests 301.62 with a downside target of 300.78. We should have a stop loss in place at 302.32 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 301.62, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

PH Ratings for November 01:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Strong
P1	0	0	294.23
P2	298.27	300.78	321.50
P3	301.62	306.61	348.18

Support and Resistance Plot Chart for PH

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