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Eaton Crosses Below its 10-day MA (ETN)

By Amy Schwartz

Today, shares of Eaton (NYSE:ETN) have crossed bearishly below their 10-day moving average of $75.75 on a volume of 836K 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.

Eaton share prices have moved between a 52-week high of $77.00 and a 52-week low of $52.45 and are now trading 44% above that low price at $75.62 per share. The 200-day and 50-day moving averages have moved 0.41% higher and 1.00% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Eaton on July 5th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $67.16. Since that recommendation, shares of Eaton have risen 13.3%. 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