• 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 $123.03 and $123.53 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.

In the past 52 weeks, shares of Honeywell International have traded between a low of $87.00 and a high of $127.52 and are now at $123.42, which is 42% above that low price. The 200-day and 50-day moving averages have moved 0.17% higher and 0.66% higher over the past week, respectively.

There is potential upside of 7.2% for shares of Honeywell International based on a current price of $123.42 and an average consensus analyst price target of $132.25. Honeywell International shares have support at the 50-day moving average (MA) of $111.44 and additional support at the 200-day MA of $103.88.

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.

SmarTrend recommended that subscribers consider buying shares of Honeywell International on December 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $117.85. Since that recommendation, shares of Honeywell International have risen 4.1%. We continue to monitor HON for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle Honeywell International

Ticker(s): HON