Honeywell International Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Honeywell International Inc stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on May 02, 2024)
The Honeywell International Inc stock price fell by -0.85% on the last day (Thursday, 2nd May 2024) from $195.30 to $193.64. During the last trading day the stock fluctuated 1.97% from a day low at $192.69 to a day high of $196.48. The price has risen in 6 of the last 10 days and is up by 1.34% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 3 million shares were bought and sold for approximately $599.65 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Honeywell International Inc stock with a 90% probability to be traded between $187.29 and $201.39 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HON Signals & Forecast
There are mixed signals in the stock today. The Honeywell International Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $193.81 and $196.86. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.72%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy 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 $193.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $3.79 between high and low, or 1.97%. For the last week the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HON) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Honeywell International Inc to open at $194.27, and during the day (based on 14 day Average True Range), to move between $190.13 and $197.15, which gives a possible trading interval of +/-$3.51 (+/-1.81%) up or down from last closing price. If Honeywell International Inc takes out the full calculated possible swing range there will be an estimated 3.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $193.45 (0.10%) than the resistance at $195.30 (0.86%), 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 negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.638 Sell Candidate Downgraded
Predicted Opening Price for Honeywell International Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $194.27 ( 0.324%) | $193.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HON
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 198.06 | 2.28 % | |
| R2 | 196.61 | 1.54 % | ||
| R1 | 195.72 | 1.07 % | ||
| Current price: | 193.64 | |||
| Support | S1 | 192.82 | -0.424 % | |
| S2 | 191.92 | -0.89 % | ||
| S3 | 190.47 | -1.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 197.69 | 2.09 % | |
| R2 | 196.16 | 1.30 % | ||
| R1 | 195.30 | 0.86 % | ||
| Current price | 193.64 | |||
| Support | S1 | 193.45 | -0.0981% | |
| S2 | 193.02 | -0.320% | ||
| S3 | 193.01 | -0.325% |
HON Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jun 07, 2024 | $1.08 | 0.558% |
| 2 | Feb 16, 2024 | Feb 29, 2024 | Mar 15, 2024 | $1.08 | 0.546% |
| 3 | Sep 29, 2023 | Nov 10, 2023 | Dec 01, 2023 | $1.08 | 0.546% |
| 4 | Sep 29, 2023 | Nov 09, 2023 | Dec 01, 2023 | $1.08 | 0.546% |
| 5 | Sep 29, 2023 | Nov 08, 2023 | Dec 01, 2023 | $1.08 | 0.546% |
FAQ
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