• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Honeywell International (NYSE:HON)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Honeywell International (NYSE:HON) based on the price action in the company's shares. Today's price range of $115.10 and $115.82 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. Traders and investors interested in shares of Honeywell International may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Honeywell International Inc. is a diversified technology and manufacturing company with operations around the world. The Company provides aerospace products and services, control technologies, automotive products, and power generation systems. Honeywell also provides specialty chemicals, fibers, plastics, and electronic and advanced materials.

Honeywell International (NYSE:HON) defies analysts with a current price ($115.38) 1.2% above its average consensus price target of $113.95. The stock should discover initial support at its 50-day moving average (MA) of $111.44 and subsequent support at its 200-day MA of $103.88.

Honeywell International share prices have moved between a 52-week high of $120.02 and a 52-week low of $87.00 and are now trading 33% above that low price at $115.38 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

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

Keywords: bullish inside day candle Honeywell International

Ticker(s): HON