Eaton Corporation (ETN) Offering Possible 7.53% Return Over the Next 7 Calendar Days

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Eaton Corporation’s most recent trend suggests a bearish bias. One trading opportunity on Eaton Corporation is a Bear Call Spread using a strike $74.00 short call and a strike $79.00 long call offers a potential 7.53% return on risk over the next 7 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $74.00 by expiration. The full premium credit of $0.35 would be kept by the premium seller. The risk of $4.65 would be incurred if the stock rose above the $79.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Eaton Corporation is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Eaton Corporation is bearish.

The RSI indicator is below 20 which suggests that the stock is in oversold territory.

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Categories: ETFs Yahoo FinanceGet full CapitalCube analysis *Disclaimer : This is as of previous day’s closing price. Technical Indicators Below is a quick look at 5 technical indicators for Eaton Corp. Plc. More studies are available on the Technical Chart. Indicator Signal Closing Price above/below 50 Day Moving Average Bearish Closing Price above/below 200 Day Moving Average Bullish … Read more
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