Eaton Trading Analysis (12/10/2023)

The trend is ascending. The stock is traded in the range between 365 and 135 ЕМА. The ascending wave structure is truncated. There is bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought state.


Trading idea:

Sell at the formation of the descending wave structure, when the A-wave breaches the sloping channel of the ascending truncated structure.

Stop-Loss: over the local maximum of the ascending structure (216.10).

Target price levels: 211.50, 203.50.

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