PH - It is in impulse cycle from major low in chart in 4 hr time frame. It is correcting in 4th subwave of 5th wave up and good buy zone near 250 or little lower for the target of new high above 275.
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Hey my friends, PAKER-HANNIFIN CORP is in a bullish continuation, strong buying volume it is located on a strong trend support. It is very plausible that we break the fibonnaci with power, to go up on the second precedent above and that we start again in the fall given the number of purchase volume before last sessions.
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PH is about to breakout of its consolidation Flag. It had a run up, then has been consolidating over the past several weeks. It is now looking to breakout upward to the 190-195 range, with the moving averages trending upward underneath as well
Recently published a daily chart for PH that shows a breakout buy setup.
RSI looks like it may come back to test its trend line. I would buy if RSI broke out along with Price action on heighted volume.
Personal Note----> Note that the RSI has not "reset". Will the potential break be of significance?
^If you are wondering what this means it is a long story....
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...