Stock Price Trends

Parker-Hannifin Corporation (PH)

Parker-Hannifin Corporation, originally Parker Appliance Company, usually referred to as just Parker, is an American corporation specializing in motion and control technologies. Its corporate headquarters are in Mayfield Heights, Ohio, in Greater Cleveland.

Stock Price Trends

Stock price trends estimated using linear regression.

Key facts

  • The primary trend is increasing.
  • The growth rate of the primary trend is 50.78% per annum.
  • PH price at the close of February 14, 2025 was $700.25 and was inside the primary price channel.
  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 12.54% per annum.
  • PH price at the close of February 14, 2025 was inside the secondary price channel.
  • The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.

Linear Regression Model

Model equation:
Yi = α + β × Xi + εi

Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)

Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)

where:

i - observation number
Yi - natural logarithm of PH price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e


Primary Trend

Start date: June 10, 2022
End date: February 14, 2025

a = 4.5187

b = 0.0011

s = 0.0602

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0011) – 1
= 50.78%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0602) – 1
= 27.24%

June 10, 2022 calculations

Top border of price channel:

Exp(Y584)
= Exp(a + b × X584 + 2 × s)
= Exp(a + b × 843 + 2 × s)
= Exp(4.5187 + 0.0011 × 843 + 2 × 0.0602)
= Exp(5.5876)
= $267.10

Bottom border of price channel:

Exp(Y584)
= Exp(a + b × X584 – 2 × s)
= Exp(a + b × 843 – 2 × s)
= Exp(4.5187 + 0.0011 × 843 – 2 × 0.0602)
= Exp(5.3467)
= $209.91

February 14, 2025 calculations

Top border of price channel:

Exp(Y1,256)
= Exp(a + b × X1,256 + 2 × s)
= Exp(a + b × 1,823 + 2 × s)
= Exp(4.5187 + 0.0011 × 1,823 + 2 × 0.0602)
= Exp(6.6902)
= $804.48

Bottom border of price channel:

Exp(Y1,256)
= Exp(a + b × X1,256 – 2 × s)
= Exp(a + b × 1,823 – 2 × s)
= Exp(4.5187 + 0.0011 × 1,823 – 2 × 0.0602)
= Exp(6.4493)
= $632.25

Description

  • The primary trend is increasing.
  • The growth rate of the primary trend is 50.78% per annum.
  • PH price at the close of February 14, 2025 was $700.25 and was inside the primary price channel.

Secondary Trend

Start date: November 6, 2024
End date: February 14, 2025

a = 7.1653

b = -0.0004

s = 0.0349

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0004) – 1
= -12.54%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0349) – 1
= 14.98%

November 6, 2024 calculations

Top border of price channel:

Exp(Y1,189)
= Exp(a + b × X1,189 + 2 × s)
= Exp(a + b × 1,723 + 2 × s)
= Exp(7.1653 + -0.0004 × 1,723 + 2 × 0.0349)
= Exp(6.6026)
= $736.99

Bottom border of price channel:

Exp(Y1,189)
= Exp(a + b × X1,189 – 2 × s)
= Exp(a + b × 1,723 – 2 × s)
= Exp(7.1653 + -0.0004 × 1,723 – 2 × 0.0349)
= Exp(6.4630)
= $640.99

February 14, 2025 calculations

Top border of price channel:

Exp(Y1,256)
= Exp(a + b × X1,256 + 2 × s)
= Exp(a + b × 1,823 + 2 × s)
= Exp(7.1653 + -0.0004 × 1,823 + 2 × 0.0349)
= Exp(6.5659)
= $710.43

Bottom border of price channel:

Exp(Y1,256)
= Exp(a + b × X1,256 – 2 × s)
= Exp(a + b × 1,823 – 2 × s)
= Exp(7.1653 + -0.0004 × 1,823 – 2 × 0.0349)
= Exp(6.4263)
= $617.89

Description

  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 12.54% per annum.
  • PH price at the close of February 14, 2025 was inside the secondary price channel.