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Industrial Conglomerates Industry Stocks Technical Analysis - HONArchive
- 5/3/2024 -
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Honeywell Int'l Inc. (HON) Technical Analysis
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| Summary:
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| | It was a first positive week after 4 consecutive negative weeks for the Honeywell Int'l Inc. (HON). During the week, the HON gained 2.36 points, or 1.22%, and closed at 195.81 on Friday, May 3, 2024. It was the best weekly gain since March 28, 2024. Weekly volume was 20% above average.
 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 trend support level is at 178.87 and resistance is at 203.77. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern 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 (203.99) 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. 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 March 28, 2024 at 206.82 and reached 189.75 on April 17, 2024. HON lost 17.07 points, or 8.25%, in 20 days. The price is now at the 35.50% retracement level.
Daily Technical Indicators: [See HON daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.
Price is close to the 50 Day Moving Average. 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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