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Bearish Moving Average Cross by Eaton (ETN)

By Nick Russo

Eaton (NYSE:ETN) shares have crossed bearishly below their 10-day moving average of $76.78 on a volume of 365K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Eaton have traded between a low of $46.19 and a high of $79.31 and are now at $76.58, which is 66% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of Eaton on November 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $64.75. Since that recommendation, shares of Eaton have risen 19.3%. We continue to monitor ETN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Eaton

Ticker(s): ETN