Elliott Wave Technical Analysis: Honeywell, Inc., Wednesday, Dec. 7

So far for Honeywell the down move has been a three wave move which confirms the count allowing for further upside. We are also approaching the parallel trend channel which often times acts as support.

Honeywell Inc., Elliott Wave Technical Analysis

Honeywell Inc.

Honeywell Inc., (HON): Daily Chart, December 7, 2022 

HON Stock Market Analysis: Moving as expected as we are entering potential wave 4 and for the time being finding support on the 20EMA

HON Elliott Wave Count: Wave 4 of (1).

HON Technical Indicators: Above all EMAs.

HON Trading Strategy: Looking for longs into wave 5 knowing the up side could be limited.

TradingLounge Analyst: Alessio Barretta

Honeywell Inc., HON: 4-hour Chart, December 7, 2022

Honeywell Inc., Elliott Wave Technical Analysis

HON Stock Market Analysis: So far the down move has been a three wave move which confirms the count allowing for further upside. We are also approaching the parallel trend channel which often times acts as support.

HON Elliott Wave count: Wave {c} of 4.

HON Technical Indicators: RSI slowly entering oversold territory.

HON Trading Strategy: Looking for longs into wave {v}.


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