1 Eaton Corporation is currently trading at $210.91 with a drop of 0.52% in the past 24 hours. However, the share price rose by 4.15% in the last 7 days. 2 The stock has been trading between $129.85 and $211.83 in the past 52 weeks. Eaton Corporation is a power management company...
- 1 Eaton Corporation is currently trading at $210.91 with a drop of 0.52% in the past 24 hours. However, the share price rose by 4.15% in the last 7 days.
- 2 The stock has been trading between $129.85 and $211.83 in the past 52 weeks.
Eaton Corporation is a power management company that offers products, technologies, and services for various industries, such as electrical, aerospace, hydraulic, vehicle, and eMobility. The company has a global presence with its headquarters in Dublin, Ireland, and more than 92,000 employees in over 175 countries.
The company’s revenue and earnings grew by 5.73% and 19.92%, respectively, in 2022, the figure reached $20.75 Billion and $2.46 Billion. The company’s earnings per share (EPS) also increased by 16.05% to $6.41 in 2022. The company’s return on assets (ROA) is 5.83% and its dividend yield is 1.63%.
However, the chart tells the same story as the fundamentals. The price is above the 200 and 50 moving averages and shows strong bullish momentum. The price is also facing resistance from its long-term supply zone, but the overall sentiment seems to be bullish.
Eaton Corporation, Stock Price Technical Analysis
Eaton Corporation’s stock price is displaying strong bullish momentum as its price has risen above the 50-day and 200-day moving averages. The price could be in a new uptrend and move higher if the buyers maintain their support for the share. Moreover, the bullish signal on the daily chart confirms the positive outlook.
The MACD line has crossed above the signal line, indicating bullish strength in the share. Currently, the MACD is at 5.65 points and the signal line is at 5.29 points, and both are above the median line in the overbought area.
The RSI is above the median line, reflecting a positive trend. Currently, the RSI is at 72.73 points and the 14-day SMA line is at 67.14 points and both are above the median line in the overbought area.
The super trend line is below the price, showing a green signal and suggesting a positive trend.
ETN chart is showing some extreme bullish signs based on the technical indicators MACD, RSI, and super trend. These indicators imply that the ETN stock is in a bullish trend and may continue to rise if buyers support the price.
Volume Analysis
Eaton Corporation’s average trading volume for the last 3 months is 2.05 Million. The average volume for the last 10 days is 1.76 Million.
Summary
The chart of Eaton Corporation’s stock shows a bullish trend, good financials, and growing revenue and net income of the company. The RSI, MACD, moving averages and super trend are all in favor of the bulls, indicating a powerful upward movement at the moment. The price may face some resistance at the supply zone, but the overall sentiment is optimistic.
Technical Levels
- Support Level – The current support level is $197.36.
- Resistance Level – The current resistance level is $219.98.
Disclaimer
This article is only for information and education purposes. Do not use this information as financial or trading advice. Trading and investing have financial risks. Before making any investment or trading decision, please think about your risk tolerance and situation.