The Rounding Bottom is just one piece of the puzzle. See the full technical breakdown.
Gradual reversal from bearish to bullish.
Bullish continuation pattern.
Bullish continuation if preceding move was up.
Consolidation. Can break either way.
Sideways movement between parallel supports.
Reversal pattern. Price likely to break downwards.
Traders are watching Parker Hannifin (PH) as price action tightens. Currently at $951.07, the asset is showing downward momentum (-4.03%). Algorithmically, a Bullish Flag structure has completed. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $1000.72, targeting $1189.5 with support near $942.32 (R:R 3.23).
What is your outlook on PH?