The Greedy Trader Weekly Analysis
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Eaton Corp.
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Summary:
Weekly :Broken trend support lineOversold sector
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR20 Day Moving Average has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Eaton Corp. (ETN). During the week, the ETN gained 3.45 points, or 4.49%, and closed at 80.35 on Friday, June 08, 2018. Weekly volume was 10% above 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 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 58.24 and resistance is at 106.98. 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 uptrend had started on January 20, 2016 at 46.19 and reached 89.85 on February 1, 2018. ETN gained -43.66 points, or -94.52%, in 106 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (82.17) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.

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

The weekly MACD line is below its signal line since March 2, 2018. The distance between MACD and the signal line is low and getting smaller. 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 29, 2018 at 76.24 and reached 80.59 on June 7, 2018. ETN gained -4.35 points, or -5.71%, in 9 days. The price is now at the 5.52% retracement level.

Daily Technical Indicators: [See ETN daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range 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.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 58.53
Bearish
Williams' Percentage Range (W%R) 11.20
Overbought
Lane's Stochastic (%D-Slow) 80.40
Overbought Bearish
Greed/Fear Indicator (GFI) 75.91
Moving Average Converg./Diverg. (MACD) 0.38 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.08
Williams' Percentage Range (W%R) 53.60
Lane's Stochastic (%D-Slow) 59.96
Greed/Fear Indicator (GFI) 52.21
Moving Average Converg./Diverg. (MACD) -0.03
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 94.64
Quarterly Trendline Support 82.17
Upper Bollinger Band 80.93
Daily Stochastic Crossing 80.43
Price 80.35
20 Day Moving Average 78.22
Weekly Stochastic Crossing 77.63
50 Day Moving Average 77.33
Parabolic System 76.51
Lower Bollinger Band 75.52
Sector and Industry
Description Name Rank
Sector Consumer Goods 2
Industry Auto Parts 55
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 76.24
Low Date 05/29/2018
High 80.59
High Date 06/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 71.62
Low Date 05/03/2018
High 80.59
High Date 06/07/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
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 Rising Channel
Status Broken Support
Resistance 94.64
Support 82.17
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 106.98
Support 58.24
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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