$HON - Looks promising here.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
ALD trade ideas
Honeywell: Swoop 🦅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 continue to fall. At the green target zone, the overarching correction in the form of the green wave (2) will be completed, which should set the stage for very substantial gains.
Use 220c expired on 08/18 to trade HON next earning reportCopy & 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 transformation. The Honeywell robotic unloader grabs packages in tractor-trailers then places them on conveyor belts for handlers to sort.
In March 2020, Honeywell announced that its quantum computer is based on trapped ions, its expected quantum volume is at least 64; which Honeywell's CEO called the world's most powerful quantum computer. Honeywell announced the spinoff of its quantum division into a separate company named "Quantinuum" in November 2021."
Honeywell Tries to Grind UpwardHoneywell 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, the stock jumped on April 26 after results beat estimates and management raised guidance. Will that lift the animal spirits into the next report in about a month?
Third, the 50-day simple moving average (SMA) is rising toward the 200-day SMA. A “golden cross” to the upside could make some chart watchers view the longer-term trend more bullishly.
Finally, short-term signals could also be positive: The 8-day exponential moving average (EMA) has been above the 21-day EMA for most of June and MACD has been rising.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
Sustainable Aviation Fuels (SAFs)Honeywell plays a large role in the future technology being implemented in aviation. Specifically now with their push for Sustainable Aviation Fuels. Seeing a greater push from consumers and organizations for more sustainable practices in doing business, the US government is expected to launch more programs to incentivize the use of sustainable fuels. The mix of the two factors may lead to a great opportunity for growth as demand starts to pick up in the coming years.
Honeywell: Into the Honeypot 🍯Honeywell should push its fingers deep into the green honeypot between $194.17 and $178.41, breaking through the support at $196. There, the share should gain new strength by finishing wave 2 in green and turn upwards again. First, it should climb back above $196 and then take off from this mark, aiming for the resistance at $222.56. Once above this level, the course should gather further momentum and continue the ascent.
HON Daily Technical AnalysisA SHORT Position
Support Price: 204,26 - 206,40 - 207,84
Resistance Price:200,50 - 193,67 - 184,36 - 179,77
Daily and Hourly indicators NEGATIVE. With market stuation price can DOWN. All Market index looking like will go DOWN. So HON can be good for short position.
Its i my mind. it is not a investment mind
10/23/22 HONHoneywell International Inc. ( NASDAQ:HON )
Sector: Producer Manufacturing (Industrial Conglomerates)
Market Capitalization: 123.158B
Current Price: $182.81
Breakout price trigger: $185.85
Buy Zone (Top/Bottom Range): $182.00-$169.55
Price Target: $200.40-$203.00 (1st), $221.20-$226.00 (2nd)
Estimated Duration to Target: 161-170d (1st), 323-351d (2nd)
Contract of Interest: $HON 3/17/23 190c, $HON 1/19/24 200c
Trade price as of publish date: $8.20/contract, $17.10/contract
Honewell downgrading. HONPivot confirmed in a zigzag, going south inline with the major indices.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.