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Industrial Conglomerates Industry Stocks Technical Analysis - HONArchive
- 4/19/2024 -
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Honeywell Int'l Inc. (HON) Technical Analysis
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| Summary:
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| | It was the negative week for the Honeywell Int'l Inc. (HON). During the week, the HON gave back -1.90 points, or -0.97%, and closed at 194.26 on Friday, April 19, 2024. HON was trading at average weekly trading volume.
HON is a member of Industrials Sector. Industrials is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See HON long-term trend chart]
A long-term downtrend had started on August 2, 2021 at 236.86 and reached 166.63 on September 30, 2022. HON lost 70.23 points, or 29.65%, in 60 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 178.56 and resistance is at 204.25. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See HON medium-term trend chart]
A medium-term uptrend had started on October 26, 2023 at 174.88 and reached 210.61 on January 2, 2024. HON gained -35.73 points, or -20.43%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (201.75) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. HON may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See HON weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 28, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See HON short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 206.82 and reached 189.75 on April 17, 2024. HON lost 17.07 points, or 8.25%, in 20 days. The chart has formed a Falling Wedge chart pattern.
 Daily Technical Indicators: [See HON daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since April 2, 2024. This is an indication that the short-term trend is down.
A Parabolic SAR (stop and reversal) indicator (194.61) comes close to the price (194.26). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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