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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- 5/17/2024 -
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Eaton Corp. (ETN) Technical Analysis

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergence
Daily :Williams' Percentage Range is overboughtStochastic signal line moved below overbought areaBullish Matching Low Candlestick
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It was the negative week for the Eaton Corp. (ETN). During the week, the ETN gave back -0.33 points, or -0.10%, and closed at 330.24 on Friday, May 17, 2024. Weekly volume was -10% 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 338.88 on May 16, 2024. ETN gained -323.87 points, or -2157.69%, in 792 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (84.56) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 338.88 on May 16, 2024. ETN gained -216.38 points, or -176.64%, in 96 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (223.69) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly 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 weekly 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.

The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. 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 16, 2024 at 338.88 and reached 326.71 on May 17, 2024. ETN lost 12.17 points, or 3.59%, in 1 days. The price is now at the 29.01% retracement level.

Daily Technical Indicators: [See ETN daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since May 3, 2024. The distance between MACD and the signal line is low and getting smaller.

Candlestick pattern: [See ETN candlestick chart pattern]
On Friday the chart has formed a Bullish Matching Low Candlestick pattern. This pattern occurs in a downtrend. The pattern suggests a short-term support, and it is a possible reversal signal. The reliability of the Bullish Matching Low Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Matching Low Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.23
Williams' Percentage Range (W%R) 19.80
Overbought
Lane's Stochastic (%D-Slow) 69.18
Greed/Fear Indicator (GFI) 67.53
Moving Average Converg./Diverg. (MACD) 5.11
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.05
Bearish
Williams' Percentage Range (W%R) 6.40
Strong Overbought
Lane's Stochastic (%D-Slow) 76.83
Bearish
Greed/Fear Indicator (GFI) 76.98
Moving Average Converg./Diverg. (MACD) 24.71 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 340.72
Daily Stochastic Crossing 333.56
Weekly Stochastic Crossing 331.36
Price 330.24
20 Day Moving Average 324.00
Parabolic System 320.48
50 Day Moving Average 316.04
Lower Bollinger Band 309.11
Quarterly Trendline Resistance 296.56
Sector and Industry
Description Name Rank
Sector Industrials 7
Industry Electrical Components & Equipment 64
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 338.88
High Date 05/16/2024
Low 326.71
Low Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 302.26
Low Date 04/19/2024
High 338.88
High Date 05/16/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 191.82
Low Date 10/20/2023
High 338.88
High Date 05/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 296.56
Support 223.69
Low 122.50
Low Date 07/14/2022
High 338.88
High Date 05/16/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 123.18
Support 84.56
Low 15.01
Low Date 03/06/2009
High 338.88
High Date 05/16/2024
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.