Elliott Wave Technical Analysis: Honeywell Inc. - Friday, Jan. 27

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Jan 27, 2023 at 7:43 AM EST

We are extending into wave (iii) as wave (i) appears to be a clear five-wave sequence.

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Honeywell Inc., Elliott Wave Technical Analysis

Honeywell Inc.,(Nasdaq: HON): Daily Chart, 27 January 23,

HON Stock Market Analysis: Honeywell has been moving as expected after a clear three-wave pullback which confirms the overall trend is to the upside. Looking for additional confirmation we are not going to double correct.

HON Elliott WaveCount: Wave{i} of1.

HON Technical Indicators: 20EMA as resistance.

HON Trading Strategy: Looking for a break of wave B to confirm longs.

Analyst: Alessio Barretta

Honeywell Inc., HON: 4-hour Chart, 27 January 23,

Honeywell Inc., Elliott Wave Technical Analysis

HON Stock Market Analysis: As you can see it looks like we are extending into wave (iii) as wave (i) appears to be a clear five-wave sequence. If the count is correct we should see a sharp move to the upside.

HON Elliott Wave count: Wave iii of (iii).

HON Technical Indicators: Above all averages.

HON Trading Strategy: Waiting for a break of wave B.

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