Honeywell Automation India Limited Stock Forecast
Stronger technical forecast for Honeywell Automation India Limited stock price after Thursday trading.
(Updated on Apr 25, 2024)
The Honeywell Automation India Limited stock price gained 0.0742% on the last trading day (Thursday, 25th Apr 2024), rising from ₹44,889.25 to ₹44,922.55. During the last trading day the stock fluctuated 1.35% from a day low at ₹44,595.80 to a day high of ₹45,200.00. The price has risen in 8 of the last 10 days and is up by 4.74% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 8 thousand shares were bought and sold for approximately ₹337.46 million.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹43,839.90, a level that may pose a second chance to hit a runner. According to fan-theory ₹48,685.89 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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HONAUT.BO Signals & Forecast
Mostly positive signals in the chart today. The Honeywell Automation India Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹44,524.44 and ₹40,091.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 21, 2024, and so far it has risen 21.33%. 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). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Wednesday, March 27, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Wednesday, March 27, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Honeywell Automation India Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹42,144.75 and ₹38,433.35. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Honeywell Automation India Limited finds support just below today's level at ₹42,144.75. If this is broken, then the next support from accumulated volume will be at ₹38,433.35 and ₹38,220.10.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹604.20 between high and low, or 1.35%. For the last week, the stock has had daily average volatility of 1.71%.
The Honeywell Automation India Limited stock is extremely overbought on RSI14 (84). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ₹42,532.67 (-5.32%) (This stock has high daily movements and this gives high risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (HONAUT.BO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Honeywell Automation India Limited to open at ₹44,906.12, and during the day (based on 14 day Average True Range), to move between ₹43,913.13 and ₹45,931.97, which gives a possible trading interval of +/-₹1,009.42 (+/-2.25%) up or down from last closing price. If Honeywell Automation India Limited takes out the full calculated possible swing range there will be an estimated 4.49% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹42,144.75, some ₹2,777.80 (6.18%) from the current price of ₹44,922.55, our system finds the risk reward attractive.
Is Honeywell Automation India Limited stock A Buy?
Honeywell Automation India Limited holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.089 Strong Buy Candidate Upgraded
Predicted Opening Price for Honeywell Automation India Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ₹44,906.12 ( 0.0366%) | ₹44,922.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HONAUT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45,510.32 | 1.31 % | |
| R2 | 45,279.51 | 0.795 % | ||
| R1 | 45,136.92 | 0.477 % | ||
| Current price: | 44,922.55 | |||
| Support | S1 | 44,675.31 | -0.550 % | |
| S2 | 44,532.72 | -0.87 % | ||
| S3 | 44,301.92 | -1.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 44,922.55 | |||
| Support | S1 | 42,144.75 | -6.18% | |
| S2 | 38,433.35 | -14.45% | ||
| S3 | 38,220.10 | -14.92% |
HONAUT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 03, 2023 | Aug 03, 2023 | Aug 25, 2023 | ₹95.00 | 0.236% |
| 2 | Aug 08, 2022 | Aug 08, 2022 | Sep 02, 2022 | ₹90.00 | 0.213% |
| 3 | Aug 01, 2017 | Aug 01, 2017 | Aug 18, 2017 | ₹10.00 | 0.0769% |
| 4 | Aug 02, 2016 | Aug 02, 2016 | Aug 02, 2016 | ₹10.00 | 0.101% |
| 5 | Jul 07, 2015 | Jul 07, 2015 | Jul 07, 2015 | ₹12.50 | 0.165% |
FAQ
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