dRends35

HON - Post Earning Capitulation

Short
dRends35 Premium Updated   
NASDAQ:HON   Honeywell International Inc
HON breaking down here after a big gap post earnings looks like its an SRP through 100MA and also reversing just above 0.618.

With indexes probably topping short- mid term should be an easy ride down i think.

Not advice.
Comment: Could bounce slightly but its looking impulsive so i'll just hold a position from here

Comment: I did bounce today as i suggested and why i stagger my positions, but i think its just a topping pattern and will probably not get much further. Heading down soon enough.
Comment: Fall probably coming soon.

Comment: Very close to tagging the 200MA and 2 gaps now + bearish div - shouldn't be long before this falls.
Comment: Well I was a bit early on this one but I'm confident it will have a very unpleasant fall in the not too distant future. Its now passed the 50 week MA and now looking like it may hit 207. Max top is 220.

Comment: So it looks like the 50 week MA was the shakeout reversal landmark. Small star last week and if this week closes bearish body I'll say the top is probably in.

Comment: I was a bit early here but nasty monthly star just printed and now this looks like a great short to hold.


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