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Possible Bearish Inside Day Candle Pattern Detected for Honeywell Intl (NYSE:HON)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Honeywell Intl (NYSE:HON) based on the price action in the company's shares. Today's price range of $167.83 and $167.96 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Honeywell Intl may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Honeywell Intl has traded in a range of $123.48 to $178.47 and is now at $167.83, 36% above that low. The 200-day and 50-day moving averages have moved 0.39% higher and 0.39% lower over the past week, respectively.

Honeywell Intl has overhead space with shares priced $167.83, or 3.5% below the average consensus analyst price target of $173.94. The stock should hit resistance at its 50-day moving average (MA) of $168.58, as well as support at its 200-day MA of $158.98.

Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment supplies products, software, and services for aircrafts and vehicles.

SmarTrend is tracking the current trend status for Honeywell Intl and will alert subscribers who have HON in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle honeywell intl

Ticker(s): HON