Trading Ideas for Eaton Corporation PLC (NYSE)

#ETN

The overall trend is upward. The assumed correction is approaching the lower border of the ascending price channel. Awesome Oscillator shows a Bullish Divergence, while the Stochastic Oscillator signals an oversold condition. A breakout of the upper border of the downward internal price channel will give an opportunity for growth in the range of the main upward price channel.

Trading recommendations:

Buy on the formation of an upward 1-2-3 pattern, where wave 1 breaks the upper border of the downward price channel.

Stop Loss below the local minimum.

Target levels - 119.40; 123.40.