Honeywell: Nearly There!Honeywell almost made it to the resistance at $210.61, which it should overcome as part of the current magenta wave (3). However, there is still a 32% chance that the price will pull back down into our magenta Target Zone between $188.24 and $180.93. This short-term bearish alternative scenario will be triggered if HON drops below the support at $189.66 before reaching a new high.
Industrialsector
GE has a solid ongoing trend higher LONGGE on a 240 minute chart shows an anchored VWAP and volume profile both anchored back into
October and a price action breakout beginning after the November earnings report and
sustained through the early February earnings report. Both reports showed significant beats
on earnings as well as good beats on revenue. I see GE as a solid long term long swing trade
into at least the next earnings in about ten weeks. Another approach aside investing is
a long term call option more than one year out to capture the tax advantage of the long- term
capital gains tax rate. I will zoom into a 30 minute time frame and go long with the best
entry of a pivot low.