• Return to Headlines

After Yesterday's Rally of 1.00% Shares Could Potentially Pullback

By James Quinn

Eaton (NYSE:ETN) traded in a range yesterday that spanned from a low of $75.17 to a high of $76.36. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $75.08 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Eaton share prices have been bracketed by a low of $46.19 and a high of $76.36 and are now at $75.45, 63% above that low price. The 200-day and 50-day moving averages have moved 0.1% lower and 0.71% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Eaton on November 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $64.75. Since that recommendation, shares of Eaton have risen 15.7%. We continue to monitor ETN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Eaton

Ticker(s): ETN