The Greedy Trader Weekly Analysis
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Monthly Price vs. Fibonacci:Near 50.0% 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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- 4/5/2024 -
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Eaton Corp. (ETN) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought
Daily :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
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It was a first positive week for the Eaton Corp. (ETN). During the week, the ETN gained 17.83 points, or 5.70%, and closed at 330.51 on Friday, April 5, 2024. Weekly volume was 32% above average.

ETN is a member of Industrials Sector. Industrials is the most overbought 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 331.47 on April 5, 2024. ETN gained -316.46 points, or -2108.33%, in 787 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (84.00) 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 331.47 on April 5, 2024. ETN gained -208.97 points, or -170.59%, in 90 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (217.04) 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 Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. 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. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 January 3, 2024 at 231.84 and reached 331.47 on April 5, 2024. ETN gained -99.63 points, or -42.97%, in 93 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 318.11 and resistance is at 331.78. 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 short-term trend.

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

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

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 83.75
Overbought
Williams' Percentage Range (W%R) 18.00
Overbought
Lane's Stochastic (%D-Slow) 82.06
Overbought
Greed/Fear Indicator (GFI) 82.60
Overbought
Moving Average Converg./Diverg. (MACD) 9.35
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 90.66
Strong Overbought
Williams' Percentage Range (W%R) 6.60
Strong Overbought
Lane's Stochastic (%D-Slow) 95.31
Strong Overbought
Greed/Fear Indicator (GFI) 87.87
Overbought
Moving Average Converg./Diverg. (MACD) 20.18
Trading Signals
Description Value Chart
Weekly Trendline Resistance 331.78
Price 330.51
Upper Bollinger Band 328.42
Weekly Stochastic Crossing 328.15
Daily Stochastic Crossing 327.73
Weekly Trendline Support 318.11
Parabolic System 313.08
20 Day Moving Average 308.97
Lower Bollinger Band 289.69
50 Day Moving Average 288.75
Monthly Trendline Support 287.90
Quarterly Trendline Resistance 286.54
Monthly Trendline Resistance 269.80
Sector and Industry
Description Name Rank
Sector Industrials 9
Industry Electrical Components & Equipment 98
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 308.22
Low Date 03/27/2024
High 331.47
High Date 04/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 331.78
Support 318.11
Low 231.84
Low Date 01/03/2024
High 331.47
High Date 04/05/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 269.80
Support 287.90
Low 191.82
Low Date 10/20/2023
High 331.47
High Date 04/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 286.54
Support 217.04
Low 122.50
Low Date 07/14/2022
High 331.47
High Date 04/05/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 122.62
Support 84.00
Low 15.01
Low Date 03/06/2009
High 331.47
High Date 04/05/2024
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.