ETN passes the Weekly breakout criteria with high volume and good fundamentals. With a favorabel risk/reward of almost 1:2, I will be on a look out for a follow through on Monday open.
Daily Chart, the stock is trading upwards with tendency to hit the Resistance R3. After crossing at around 254, the target will be 292 then 330
Technical indicators MACD and RSI are positive.
Stop loss below 224 should be considered.
Hi traders,
We are expecting the price to go higher and retest previous all time high.
And get rejected. Next, we expect pullback towards Fib level 0.5 (215.83) and from there another bounce.
Entry, target and stop loss are shown on the chart.
The PEAD projected a bullish outlook for NYSE:ETN after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 62.5%.
Eaton has flirted with record highs, and some traders may be looking for a breakout.
The first pattern on today’s chart is the price level around $175 where ETN peaked in late 2021. The industrial stock inched above the peak in March before pulling back. In the process, it made a higher quarterly low (for the fourth straight quarter). That tightening price action...
Management also raised its organic growth guide for Electrical Americas on sustained strength of end market demand. Data centers (~14% of total revenues) remain a bright spot, and the company upgraded its expectations for Utility (~10%) and Residential (~8%) end markets.
Eaton has a large number of “mega-projects,” with a decent track record of winning. The...
EATON Corporation, PLC.
At stock exchange from the early beginning in the late '20s from the last century. An ongoing story of success.
Don't make the mistake to expect reaching the mentioned values at the ground time scale. There is no connection between these two objectives in Elliott Wave theory (!).
The share price should reach 222 US-$. After a correction...
13/Feb/2023 07:23 PM AUTHOR: Brandon Gum
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Risk to prior lows. High probability setup with initial stop loss entry criteria.
Measured-move take profit established from the inverted%move of the October 2022, inverted at the neckline ~$175
Daily is a lot choppier than weekly.
Industrials are strong. Rising tide lifts all boats.
THis strategy only works if...
The PEAD projected a Bullish outlook for $ETN after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 50%.
The PEAD projected a Bullish outlook for $ETN after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 57.14%.
The PEAD projected a Bullish outlook for $ETN after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 60%.
ETN Short
Failed breakout attempt to the upside after months of consolidation
Pul back to supply zone with a retest of the zone
Wide range igniting bar/candle to the downside with new candles consolidating at the lower 1/3 of the wide range bar
Expecting a move lower if today´s low is broken
The PEAD projected a Bullish outlook for $ETN after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 33.33%.
