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Eaton Crosses Below its 10-day MA (ETN)

By David Diaz

Eaton (NYSE:ETN) crossed under its 10-day moving average of $77.58 on a volume of 386K 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 $62.89 and a high of $79.65 and are now at $77.45, which is 23% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Eaton on June 9th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $75.46. Since that recommendation, shares of Eaton have risen 3.8%. 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