Hello altogether!
Honeywell is looking pretty nice at the moment. Could be a good entry point around 214-220.
As usual: check for a confirmation that this is actually our support. If you can see it, grab it :)
My favorite setup. Blue chip stock, ascending triangle. Calls have super low IV making them dirt cheap. 9/24 $225 call option $3.15. Hoping for a quick move early next week. Today's candle looks bullish, lets see what we get tomorrow.
Redline - resistance
Green line - Target/ gap close
Whiteline -Primary trendline since march 2020
Fell through trendline last week.
Most of all dow stocks are going through or went through a correction already.. now its honeywell turn
This is a weekly chart but i think a great entry cor a short would be below the next support which is the 100ma at 226
HON is trying to break the Trend Resistance starting 3rd week of April. Seems to heavy to break that resistance. What will it take to push the prices higher? The Fed? Remember that HON is part of DOW30 and Nasdaq100.
The PEAD projected a Bullish outlook for $HON after a Negative over reaction following its earnings release placing the stock in drift C
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HON chart catches my eyes with huge volume spike before today's earnings report.
The average volume is grater than it was in march 2020. Someone knows something?!
In detailed view one can identify two repetitive Descending Broadening Right-Angled Wedge on top ( see T. Bulkowski ) or/and the base on the base.
Not a recommendation, just an observation.
