Eaton: a 1% bounce, but volume says otherwise
Eaton climbs 1% as 68% of volume sells: same tight corridor holds
Eaton: a 1% bounce, but volume says otherwise
Our view last week
Eaton slipped 1.8% this week, giving back part of last week's bounce and boxing itself again between resistance from the 50-day average, in the 403 area, and support from the daily Kumo ceiling, in the 399 area - the same tight corridor flagged seven days ago. Money flow improves slightly but stays negative, while the MACD histogram keeps worsening: an undecided picture, with the double bottom in the 379 area now behind it.
This week's summary
Eaton climbs 1% but 68% of the week's volume sold into the rally - price up, participation selling, the same divergence flagged by the price action. Eaton stock stays boxed in the same tight corridor as last week, between the 50-day average and the cluster of averages just above. Money flow improves but stays negative, while the MACD histogram keeps worsening - still an undecided picture, with the double bottom in the 380 area now behind it.
IQS Phase
42
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#36 / 124
US stocks in progress
Trade P&L %
+0.27%
from signal to today
Rank position
ranks 36th among the 124 Longs already running for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimein positive regime
Performanceweekly +1.81% · monthly +1.36%
ETN belongs to the industrial sector (reference ETF XLI). The sector is classified in positive regime according to our weekly reading.
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