• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Industrials

We're Still Bullish on Eaton

But investors may want to raise their sell-stop protection.
By BRUCE KAMICH
Apr 21, 2017 | 03:30 PM EDT
Stocks quotes in this article: ETN

Eaton (ETN) is still moving higher in line with our last update where we recommended that "traders and investors could approach the long side of ETN at current levels risking a close below $70. We look for further gains to the mid-$80s for ETN in the second quarter."

If you went long on April 10, you are holding your own. Sell-stop protection could be raised to a close below $71. Let's review the latest charts to see if everything is still in gear on the upside.

In this daily chart of ETN, above, we can see  prices remain above the rising 50-day moving average and above the rising 200-day average line. The On-Balance-Volume (OBV) line is still pointed up and bullish. The only small change is the MACD oscillator signaling a take-profits sell.

In this weekly chart we can see prices above the rising 40-week moving average line. The OBV line and the MACD oscillator are both bullish on this timeframe.

This Point and Figure chart of ETN is still bullish and has not made a retracement deep enough for a down column (O's). The upside price target is still $86.

Bottom line: Without any warning signs, we remain bullish on ETN.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are restricted from trading individual securities.

TAGS: Investing | U.S. Equity | Industrials

More from Industrials

If These Stocks Are Any Indication, Investors Are Betting Against a Soft Landing

Bob Byrne
Jun 23, 2022 8:30 AM EDT

The sharp downward price action in a number of materials producers suggests traders believe a recession is right around the corner.

If You're Tired of Taking a Haircut on Losing Stocks, Get Mohawk

Paul Price
Jun 23, 2022 7:00 AM EDT

Now you can own a world leader industrial company at a ground-floor entry price.

Atkore Makes an Upside Breakout and Pullback

Bruce Kamich
Jun 9, 2022 12:15 PM EDT

Let's check the charts and indicators.

Bearish Bets: 3 Sluggish Stocks You Should Consider Shorting This Week

Bob Lang
May 15, 2022 10:30 AM EDT

These recently downgraded names are displaying both quantitative and technical deterioration.

Bearish Bets: 3 Slumping Stocks You Should Consider Shorting This Week

Bob Lang
May 8, 2022 10:30 AM EDT

These recently downgraded names are displaying both quantitative and technical deterioration.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 08:55 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    The 10 personality traits of successful traders an...
  • 12:08 PM EDT STEPHEN GUILFOYLE

    Stocks Under $10

    As a Portfolio Name Agrees to a Merger, Here's Our...
  • 10:44 AM EDT PAUL PRICE

    My Very Best Pick for the Next 12 Months

    American Woodmark . It rarely gets better than th...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login