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Diversified Metals & Mining Industry Stocks Technical Analysis - HONArchive
- 5/10/2024 -
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Honeywell Int'l Inc. (HON) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second positive week after 4 consecutive negative weeks for the Honeywell Int'l Inc. (HON). During the week, the HON gained 7.11 points, or 3.63%, and closed at 202.92 on Friday, May 10, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was -19% below average.
HON is a member of Industrials Sector. Industrials is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See HON long-term trend chart]
A long-term downtrend had started on August 2, 2021 at 236.86 and reached 166.63 on September 30, 2022. HON lost 70.23 points, or 29.65%, in 60 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (203.53). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See HON medium-term trend chart]
A medium-term uptrend had started on October 26, 2023 at 174.88 and reached 210.61 on January 2, 2024. HON gained -35.73 points, or -20.43%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (205.11) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See HON weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 28, 2024. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
 Short-term trend: [See HON short-term trend chart]
A short-term downtrend had started on January 2, 2024 at 210.61 and reached 189.66 on February 1, 2024. HON lost 20.95 points, or 9.95%, in 30 days. The chart has formed a Descending Triangle chart pattern. The trend support level is at 189.78 and resistance is at 204.93. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a short-term trend.
 Daily Technical Indicators: [See HON daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since April 30, 2024. The distance between MACD and the signal line is relatively high and getting bigger.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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