Parker-Hannifin Corporation : A long term support level to be taken advantage of
Entry price | Target | Stop-loss | Potential |
---|
$160.02 |
$176 |
$149.75 |
+9.99% |
---|
Shares in Parker Hannifin are currently testing the support level at 155.15 USD on the weekly chart. Investors should regard the recent downward movement as an opportunity to go long the stock.
Summary● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
● The company has solid fundamentals for a short-term investment strategy.
Strengths● The share is getting closer to its long-term support in weekly data, at USD 155.15, which offers good timing for buyers.
● The group's high margin levels account for strong profits.
● Predictions on business development from analysts polled by Thomson-Reuters are tight. This results from either a good visibility into core activities or accurate earnings releases.
● Over the last twelve months, the sales forecast has been frequently revised upwards.
● Analysts covering this company mostly recommend stock overweighting or purchase.
● The difference between current prices and the average target price is rather important and implies a significant appreciation potential for the stock.
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