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Eaton Crosses Above its 10-day MA (ETN)

By Nick Russo

Eaton (NYSE:ETN) shares have crossed bullishly above their 10-day moving average of $67.58 on a volume of 182K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Eaton share prices have moved between a 52-week high of $73.82 and a 52-week low of $46.19 and are now trading 47% above that low price at $67.79 per share. 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 July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $63.35. Since that recommendation, shares of Eaton have risen 6.4%. 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