The Greedy Trader Weekly Analysis
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Eaton Corp.
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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtBearish Deliberation Candlestick
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It was a fifth consecutive positive week for the Eaton Corp. (ETN). During the week, the ETN gained 3.34 points, or 3.99%, and closed at 87.15 on Friday, September 14, 2018. It was the best weekly gain since June 8, 2018. Weekly volume was -18% below average.

Long-term trend: [See ETN long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 15.01 and reached 89.85 on February 1, 2018. ETN gained -74.84 points, or -498.60%, in 464 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 59.43 and resistance is at 108.85. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See ETN medium-term trend chart]
A medium-term downtrend had started on February 1, 2018 at 89.85 and reached 71.62 on May 3, 2018. ETN lost 18.23 points, or 20.29%, in 13 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (76.06) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ETN may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See ETN weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since July 20, 2018. The distance between MACD and the signal line is relatively high and getting bigger. Use the following link to access a MACD help.

Short-term trend: [See ETN short-term trend chart]
A short-term uptrend had started on May 3, 2018 at 71.62 and reached 87.41 on September 14, 2018. ETN gained -15.79 points, or -22.05%, in 134 days. Price is near the trend high.

Daily Technical Indicators: [See ETN daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic.

The daily MACD line is above its signal line since August 24, 2018. This is an indication that the short-term trend is up.

Candlestick pattern: [See ETN candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.94
Williams' Percentage Range (W%R) 7.20
Strong Overbought
Lane's Stochastic (%D-Slow) 90.22
Strong Overbought
Greed/Fear Indicator (GFI) 86.99
Overbought
Moving Average Converg./Diverg. (MACD) 1.24
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.75
Williams' Percentage Range (W%R) 3.20
Strong Overbought
Lane's Stochastic (%D-Slow) 84.96
Overbought
Greed/Fear Indicator (GFI) 80.71
Overbought
Moving Average Converg./Diverg. (MACD) 0.47
Trading Signals
Description Value Chart
Upper Bollinger Band 87.45
Price 87.15
Daily Stochastic Crossing 86.94
Weekly Stochastic Crossing 86.30
Parabolic System 84.05
20 Day Moving Average 83.53
50 Day Moving Average 81.06
Lower Bollinger Band 80.18
Monthly Trendline Support 76.06
Monthly Trendline Resistance 74.82
Sector and Industry
Description Name Rank
Sector Consumer Goods 4
Industry Auto Parts 40
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 71.62
Low Date 05/03/2018
High 87.41
High Date 09/14/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 71.62
Low Date 05/03/2018
High 87.41
High Date 09/14/2018
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 74.82
Support 76.06
High 89.85
High Date 02/01/2018
Low 71.62
Low Date 05/03/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 46.19
Low Date 01/20/2016
High 89.85
High Date 02/01/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 108.85
Support 59.43
Low 15.01
Low Date 03/06/2009
High 89.85
High Date 02/01/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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