Murray_Campbell

ETN Short - Divergences in MACD and EFI

Short
BATS:ETN   Eaton Corporation, PLC
0
As my first Published Idea I would like to suggest Shorting ETN .
The declining volume and the divergence in both MACD histogram and lines, point to a trend reversal.
The Elder Force index also has a bearish divergence.
Finally, the daily candlestick chart is going to create an evening star with a bearish engulfing pattern.
Stop above the close price of the evening star .
Target near 45 a strong support/resistance line

Short @ 46.70
Stop @ 47.45
Target @ 45.25
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