Honeywell International Inc Stock Forecast

Stronger technical forecast for Honeywell International Inc stock price after Friday trading.
(Updated on Apr 19, 2024)

HON Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.05%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Honeywell International Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $198.29. On a fall, the stock will find some support from the short-term average at $193.36. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Honeywell International Inc stock

Honeywell International Inc finds support from accumulated volume at $194.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.90 (1.51%) between high and low. For the last week, the stock has had daily average volatility of 1.72%.

Our recommended stop-loss: $183.38 (-5.60%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (HON) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Honeywell International Inc to open at $193.47, and during the day (based on 14 day Average True Range), to move between $191.08 and $197.44, which gives a possible trading interval of +/-$3.18 (+/-1.64%) up or down from last closing price. If Honeywell International Inc takes out the full calculated possible swing range there will be an estimated 3.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $194.01 (0.13%) than the resistance at $197.31 (1.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Honeywell International Inc stock A Buy?

Honeywell International Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.231 Hold/Accumulate Upgraded

Predicted Opening Price for Honeywell International Inc of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.