Bearish Moving Average Cross by Eaton (ETN)
Eaton (NYSE:ETN) crossed under its 10-day moving average of $62.93 on a volume of 840K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Eaton has traded in a range of $46.19 to $73.82 and is now at $62.75, 36% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.
SmarTrend is tracking the current trend status for Eaton and will alert subscribers who have ETN in their portfolio or watchlist when shares have changed trend direction.
Keywords: moving crosses Eaton