Chart of the Day: Eaton Is Losing Power

Avatar photo Bob Lang on July 30, 2026

Eaton (ETN) stock

There seems to be a major power outage among the companies providing energy to data centers, AI locations and other sectors. Eaton ($ETN) is one of many names that seems to have plenty of business, but the stock just cannot seem to catch a break. Regardless of any good news Eaton just seems to be a stock many investors want to sell and not wait for it to recover.

The chart is unquestionably bearish, and has broken the downtrend channel on higher volume. We look for the shares to pivot off some good strong support (drawn in the first chart), and perhaps rally back into the channel. That is sloping downward, so a downtrend is intact.

MACD is on a sell signal while stochastics have rolled over, amd money flow is also bearish. There is further support even lower around the $320 area, but I suspect we won’t get there anytime soon, or else this stock would be a screaming buy.

We like Eaton in TheStreet Pro Portfolio and rate it a Two, or “stockpile on pullbacks.”

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At the time of publication, TheStreet Pro Portfolio was long ETN.

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Posted by Bob Lang

Bob Lang is one of the country’s top options traders, an expert market technician, and a highly sought-after mentor and teacher. He is a private trader in equity and option markets and created his own hedge fund and options trading company called Explosive Options. He is also founder and Chief Options Analyst at Aztec Capital, LLC. He has been a regular contributor to TheStreet Pro's paid subscription products since 2009. Lang is both a short-term trader and long-term stock investor. He utilizes technical and fundamental analysis to find investment opportunities. His coverage for TheStreet Pro specializes in options trading, stock investing, and technical analysis. One of Lang’s claims to fame is his creation of the acronym FANG to describe the top tech companies at the time (Facebook, Amazon, Netflix, and Google). The acronym has since expanded considerably and is still widely used today. He is the author of the book “Know Your Options” and holds an MBA from the University of Redlands. When he’s not providing financial commentary for TheStreet, he can be found on the tennis court, reading, or traveling.

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