Honeywell international, inc. American multinational holding company. It provides different commercial and consumer products, engineering services, and aerospace systems to a wide range of customers, from private customers to large joint-stock companies and governments. I liked the long-term chart very much and wanted to share my opinion.
Im in the process of reading EDWARDS AND MAGEE book. I'm on chapter 8, reading about triangles, and going through charts. It appears to me the HON has formed a symmetrical triangle, and I couldn't help myself. I had to make this chart. Now idk if I'm right or wrong about my analysis or what I'm seeing on the chart. BUT it's pretty cool to see this chart right...
The 200-day and 200-week are acting as major pivotal support.
A price action above 197.00 supports a bullish trend direction.
Increase long exposure for a break above 201.00.
The target price is set at 206.00.
The stop-loss price is set at 192.00.
The MACD (lower panel) confirmed a bullish crossover and might support the stock in some upside price potential.
Taking a look at the weekly chart, I believe this stock has more potential of a pullback then it does with bullish continuation.
With that said, I actually want to see some further gains with this stock up towards my AOI level (area in green). If price arrives there, I'll be looking for a potential short position.
It is estimated that about 25% of buildings worldwide consume a Honeywell product. The company is the 4th largest conglomerate in the world based on market value. The company has a diverse portfolio and clientele that makes Honeywell International an essential company in the following sectors:
1. Aerospace:
Core Business: Designing, manufacturing, and servicing...
NASDAQ:HON looks interesting here. It is trading inside a descending wedge. MACD is showing bullish divergence and is about to perform a bullish cross.
If it can break out of the descending wedge, it could travel much further.
Keep an eye on the critical resistance area at $192.
Upside targets:
$192
$195
$203
Downside risk:
$172
For two weeks now, Honeywell stock has been heading south, losing more than 10%. It has completed the magenta wave (B) and is currently in the same colored wave (C). Even though the price has rallied a bit this week, we believe that the end of this wave is only in sight further south in our green target zone between $182.14 and $173.09 and that the price should...
The PEAD projected a bearish outlook for NASDAQ:HON after a negative under reaction following its earnings release placing the stock in drift D with an expected accuracy of 60%.
The market is very close to forming an ABCD at 207.92$ in the Daily.
If we see the retracement from the previous high, we can see it is pretty much at the 0.618.
I am inputting and order there and I'm going to use a 1.5$ stop loss at 209.42.
Copy & Paste from Wikipedia ...
"Honeywell Forge launched as an analytics platform software for industrial and commercial applications such as aircraft, building, industrial, worker and cyber-security.
In collaboration with Carnegie Mellon University National Robotics Engineering Center, the Honeywell Robotics was created in Pittsburgh to focus on supply chain...
Honeywell has been dormant since March, but now some traders may think bulls are gaining traction in the industrial conglomerate.
The first pattern on today’s chart is the falling trendline along the highs of April and early June. HON ripped above that line two weeks ago and is now attempting to bounce at it. Old resistance may have become new support.
Second,...
Honeywell flies under the radar, but this is a massive player in quantum computing, in consolidation since February seems like it wants to start moving considering all the buzz in AI recently, needs a channel break and hold for continued upside.
I have opened some weekly lotto 207.5 call options with high hopes to land ITM at 208 by Friday. I see long potential here as this sector has been lagging. I expect highs of at least 212, 215, 218 to be hit in the coming weeks.
Neutral until broken with a confirmed trend in that direction.
No recommendation.
52 Week Range
166.63
220.96
Day Range
194.23
197.65
EPS (FWD)
9.14
PE (FWD)
21.47
Div Rate (FWD)
$4.12
Yield (FWD)
2.10%
Short Interest
0.84%
Market Cap
$130.65B
Volume
872,49
The crucial level for this underlying asset is $192.5. If it successfully maintains and closes above this level, it has the potential to reach or exceed the $195 mark.
The PEAD projected a bullish outlook for NASDAQ:HON after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 90%.
