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

By James Quinn

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. Yesterday's price range of $115.10 and $115.82 is within the prior day'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, Honeywell International share prices have been bracketed by a low of $87.00 and a high of $120.02 and closed yesterday at $115.26, 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.7%.

Honeywell International (NYSE:HON) is currently priced 1.1% above its average consensus analyst price target of $113.95. 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 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 am inside day candle Honeywell International

Ticker(s): HON