|
|
Advanced TA SearchArchive
- 9/22/2023 -
Sign In to see current Signals. |
Eaton Corp. (ETN) Technical Analysis
|
 |
| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the Eaton Corp. (ETN). During the week, the ETN dropped -4.98 points, or -2.29%, and closed at 212.66 on Friday, September 22, 2023. ETN was trading at average weekly trading volume.
 Long-term trend: [See ETN long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 15.01 and reached 240.44 on September 12, 2023. ETN gained -225.43 points, or -1501.87%, in 757 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (131.87) 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 240.44 on September 12, 2023. ETN gained -117.94 points, or -96.28%, in 60 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (176.18) 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.
The weekly MACD line is above its signal line since May 19, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 September 12, 2023 at 240.44 and reached 209.02 on September 22, 2023. ETN lost 31.42 points, or 13.07%, in 10 days. The price is now at the 11.58% retracement level.
 Daily Technical Indicators: [See ETN daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since September 12, 2023. 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 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.
 Candlestick pattern: [See ETN candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.
| |
|
|