Parker Hannifin (PH) – Bearish DailyPlay for Tuesday July 17th, 2018
The bearish DailyPlay we chose for Tuesday, July 17th is Parker Hannifin (PH). PH is part of the Industrial Sector (XLI). Over the last month, XLI has experienced a 2.86% move lower and its 6m trend turned bearish on 6/19 while breaking below its $75 support level which now becomes resistance.
Parker Hannifin’s 1m and 6m trends turned bearish yesterday and recently bounced lower off its $160 resistance level. With a technical score of 2 (out of 10), PH is a weak stock that will likely trend lower.
As a stop loss, if PH was to trade above $160 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
Join us @ Wealth365 Summit: Generate Consistent Income w/ Weekly Options