Eaton Crosses Below its 10-day MA (ETN)
Eaton (NYSE:ETN) shares have crossed bearishly below their 10-day moving average of $72.95 on a volume of 300K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Eaton share prices have been bracketed by a low of $57.11 and a high of $79.98 and are now at $72.41, 27% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.
SmarTrend recommended that subscribers consider buying shares of Eaton on May 4th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $70.64. Since that recommendation, shares of Eaton have risen 3.5%. We continue to monitor ETN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Eaton