Short term view - HONEYWELL INTL : The moving average is capping prices.
The resistance has been passed, the trend becomes positive as we now have a succession of ascending peaks and troughs.The next target is at $157.00. The invalidation level is below $142.40.Arguments :
- The major support has been shortly breached, but it is now reinstated. Prices can bounce.
- The MACD is rising.
- The moving average is capping prices.
- The reaction at the resistance is weak, we anticipate its break soon.
Honeywell International is a technology and manufacturing company. The company has four segments: Aerospace, which supplies products, software and services for aircrafts; Honeywell Building Technologies, which provides products, software, solutions and technologies including building control and optimization, energy management, access control, video surveillance, fire products, and remote patient monitoring systems; Performance Materials and Technologies, which develops and manufactures chemicals and materials, process technologies and automation solutions; and Safety and Productivity Solutions, which provides products and software that improve productivity, workplace safety and asset performance.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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