The Greedy Trader Weekly Analysis
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Quarterly Price vs. Fibonacci:Near 23.6% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 6/7/2024 -
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Eaton Corp. (ETN) Technical Analysis

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Summary:
Weekly :Stochastic signal line moved below overbought areaWeekly  MACD line has moved below its signal lineBroken trend resistance lineBroken trend resistance line
Daily :Williams' Percentage Range is oversoldPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Eaton Corp. (ETN). During the week, the ETN dropped -18.02 points, or -5.41%, and closed at 314.83 on Friday, June 7, 2024. Weekly volume was 50% above 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 345.19 on May 24, 2024. ETN gained -330.18 points, or -2199.73%, in 794 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (84.81) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 long-term trend.

Medium-term trend: [See ETN medium-term trend chart]
A medium-term uptrend had started on July 14, 2022 at 122.50 and reached 345.19 on May 24, 2024. ETN gained -222.69 points, or -181.79%, in 97 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (226.79) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.

Short-term trend: [See ETN short-term trend chart]
A short-term downtrend had started on May 24, 2024 at 345.19 and reached 310.15 on June 4, 2024. ETN lost 35.04 points, or 10.15%, in 11 days. The price is now at the 13.36% retracement level.

Daily Technical Indicators: [See ETN daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since May 28, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has declined below 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 price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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) 37.96
Williams' Percentage Range (W%R) 90.50
Strong Oversold
Lane's Stochastic (%D-Slow) 21.92
Greed/Fear Indicator (GFI) 23.13
Moving Average Converg./Diverg. (MACD) 2.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.32
Williams' Percentage Range (W%R) 29.00
Lane's Stochastic (%D-Slow) 75.69
Greed/Fear Indicator (GFI) 66.58
Moving Average Converg./Diverg. (MACD) 25.40
Trading Signals
Description Value Chart
Monthly Trendline Resistance 348.72
Upper Bollinger Band 341.71
Weekly Stochastic Crossing 333.46
Monthly Trendline Support 332.54
20 Day Moving Average 330.31
Parabolic System 328.72
50 Day Moving Average 323.04
Daily Stochastic Crossing 315.92
Price 314.83
Lower Bollinger Band 311.07
Quarterly Trendline Resistance 301.23
Sector and Industry
Description Name Rank
Sector Industrials 3
Industry Electrical Components & Equipment 45
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 345.19
High Date 05/24/2024
Low 310.15
Low Date 06/04/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 345.19
High Date 05/24/2024
Low 310.15
Low Date 06/04/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 348.72
Support 332.54
Low 191.82
Low Date 10/20/2023
High 345.19
High Date 05/24/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 301.23
Support 226.79
Low 122.50
Low Date 07/14/2022
High 345.19
High Date 05/24/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 123.43
Support 84.81
Low 15.01
Low Date 03/06/2009
High 345.19
High Date 05/24/2024
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.