The Greedy Trader Weekly Analysis
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Eaton Corp.
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Summary:
Weekly :Oversold sector
Daily :Stochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARPrice is near the Fibonacci 23.6% retracement levelThe price moved above the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was a second positive week after 3 consecutive negative weeks for the Eaton Corp. (ETN). During the week, the ETN gained 1.78 points, or 2.34%, and closed at 77.70 on Friday, December 01, 2017. It was the best weekly gain since September 15, 2017. Weekly volume was -7% below average.

ETN is a member of Consumer Goods Sector. Consumer Goods is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ETN long-term trend chart]
A long-term uptrend had started on January 20, 2016 at 46.19 and reached 82.34 on November 1, 2017. ETN gained -36.15 points, or -78.26%, in 93 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 74.79 and resistance is at 87.02. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See ETN medium-term trend chart]
A medium-term downtrend had started on November 1, 2017 at 82.34 and reached 75.42 on November 17, 2017. ETN lost 6.92 points, or 8.40%, in 2 weeks. The price is now at the 32.95% retracement level.

Weekly Technical Indicators: [See ETN weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since November 17, 2017. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 November 17, 2017 at 75.42 and reached 78.42 on December 1, 2017. ETN gained -3.00 points, or -3.98%, in 14 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ETN daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. 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 link to access Lane's Stochastic help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.48
Williams' Percentage Range (W%R) 36.90
Lane's Stochastic (%D-Slow) 67.25
Greed/Fear Indicator (GFI) 59.63
Moving Average Converg./Diverg. (MACD) -0.41
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.57
Williams' Percentage Range (W%R) 34.70
Lane's Stochastic (%D-Slow) 43.72
Greed/Fear Indicator (GFI) 55.96
Moving Average Converg./Diverg. (MACD) 1.06
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 87.02
Upper Bollinger Band 79.31
Daily Stochastic Crossing 77.92
50 Day Moving Average 77.86
Price 77.70
Weekly Stochastic Crossing 77.68
20 Day Moving Average 77.08
Parabolic System 75.80
Lower Bollinger Band 75.02
Quarterly Trendline Support 74.79
Sector and Industry
Description Name Rank
Sector Consumer Goods 2
Industry Auto Parts 122
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 75.42
Low Date 11/17/2017
High 78.42
High Date 12/01/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 82.34
High Date 11/01/2017
Low 75.42
Low Date 11/17/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 69.82
Low Date 08/29/2017
High 82.34
High Date 11/01/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 87.02
Support 74.79
Low 46.19
Low Date 01/20/2016
High 82.34
High Date 11/01/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15.01
Low Date 03/06/2009
High 82.34
High Date 11/01/2017
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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