Honeywell Automation India Limited Stock Forecast

Red day on Friday for Honeywell Automation India Limited stock after losing 1.52%
(Updated on May 03, 2024)

HONAUT.BO Signals & Forecast

The Honeywell Automation India Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹44,867.33. On a fall, the stock will find some support from the long-term average at approximately ₹41,074.33. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -2.50%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. 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

Honeywell Automation India Limited finds support from accumulated volume at ₹42,144.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹1,174.10 between high and low, or 2.67%. For the last week, the stock has had daily average volatility of 2.63%.

Our recommended stop-loss: ₹42,479.42 (-3.72%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (HONAUT.BO) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Honeywell Automation India Limited to open at ₹44,412.18, and during the day (based on 14 day Average True Range), to move between ₹43,058.13 and ₹45,182.77, which gives a possible trading interval of +/-₹1,062.32 (+/-2.41%) 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 4.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹44,267.75 (0.33%) than the support at ₹42,144.75 (4.48%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Honeywell Automation India Limited stock A Buy?

Honeywell Automation India Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.490 Hold/Accumulate Unchanged

Predicted Opening Price for Honeywell Automation India Limited of Monday, May 6, 2024

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