Its All Ball Bearings!

• Posted by Greg Harmon
• on November 20th, 2012

Fletch said it best but Eaton Corporation, $ETN, lives it daily. The stock of this Cleveland, Ohio based maker of Ball bearings (among many other things) has been knocking it out of the park since bottoming in July. But now is your opportunity to get in for the next move up. The chart below

Eaton Corporation, $ETN, Daily

shows a series of steps higher with the latest bull flag breaking Monday and testing the previous high Tuesday. It has support for more upside from a Relative Strength Index (RSI) that is bullish and rising and a Moving Average Convergence Divergence indicator (MACD) that has just crossed to positive. A move over 51 triggers a Measured move higher to 54. And the weekly view shows the

Eaton Corporation, $ETN, Daily

significance of the 51 level as well, with a break over the top of an Ascending triangle carrying a target of 69, just above the 3-box reversal Point and Figure chart price objective.

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Dragonfly Capital Views Performance Through November 2012 Expiry

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