ETN runs into sellers again around 87.41

Eaton Corporation PLC (ETN) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team


ETN closes above its opening price after recovering from early selling pressure
ETN closes higher for the 3rd day in a row
ETN runs into sellers again around 87.41
ETN rises to highest close since February 1st
ETN closes within previous day's range


Moving higher for the 3rd day in a row, ETN ended the week 3.99% higher at 87.15 after gaining $0.45 (0.52%) today on low volume. Today's closing price of 87.15 marks the highest close since February 1st. Trading up to $0.33 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (ETN as at Sep 14, 2018):

Daily technical analysis candlestick chart for Eaton Corporation PLC (ETN) as at Sep 14, 2018

Friday's trading range was $0.84 (0.97%), that's slightly below last trading month's daily average range of $1.02. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being above average.

After having been unable to move above 87.33 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 87.41.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Market Conditions for ETN as at Sep 14, 2018

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