This Foreboding Sign Looms Over Parker Hannifin's Chart

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If history is any guide, there may be trouble ahead for shares of Parker HannifinPH. A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.

What To Know: Many traders use moving average crossover systems to make their decisions.

When a shorter-term average price crosses above a longer-term average price, it could mean the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is lower.

Why It's Important: The 50-day and the 200-day simple moving averages are commonly used.

The death cross occurs when the 50-day moves below the 200-day. This could mean the long-term trend is changing.

That just happened with Parker Hannifin, which is trading around $291.19 at publication time.

signals

Remember: Seasoned investors don't blindly trade Death Crosses.

Instead, they use it as a signal to start looking for short positions based on other factors, like price levels and company fundamentals & events.

For seasoned investors, this is just a sign that it might be time to start considering possible short positions.

With that in mind, take a look at Parker Hannifin's past and upcoming earnings expectations:

Quarter Q4 2021 Q3 2021 Q2 2021 Q1 2021
EPS Estimate 4.32 3.78 2.60 2.34
EPS Actual 4.38 4.11 3.44 3.07
Revenue Estimate 3.93 B 3.73 B 3.22 B 2.98 B
Revenue Actual 3.96 B 3.75 B 3.41 B 3.23 B

Do you use the Death Cross signal in your trading or investing? Share this article with a friend if you found it helpful!

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