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Breakout Setup -RSI & MACD- $PH

Long
NYSE:PH   PARKER-HANNIFIN CORP
Actually some decent characteristics coming together for this chart.

RSI has a top side resistance line that it is nearing. Today it closed at its "uniform action" line seen in the green. Look for a break of the green line first. This could be a level 1 entry. A level 2 entry on the top side resistance line break. Obviously we are looking for volume at the break.

^if it breaks top side resistance on the RSI expect it to also be breaking the price action resistance at the same time

MACD also giving a solid setup. About to break a trend line at the same time that it would also perform a zero crossing. This would be 2 signals in one and carries more weight than a single MACD signal.

Overall chart looks good.

Fundamentally the company has decent growth I know. As far as fundamental drivers for this I could not tell you. Its an industrial. S&P IQ has a positive outlook for the sector.
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Comments

PKA PKA
@PKA, Not bullish unless it can break above daily cloud and hold.
Reply
@PKA, thank you very much for your chart. I have yet to learn Icho cloud. maybe i will this weekend ;)
+1 Reply
gumbtg gumbtg
@PKA thank you for reaching out my friend :)
+1 Reply
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