Elliott Wave Technical Analysis: Honeywell International Inc.

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Aug 19, 2022 at 10:09 AM EDT

Looking for a resumption of the overall uptrend. The move of the low appears to be impulsive as we can count a potential five-wave move.

red and blue light streaks

Photo by Maxim Hopman on Unsplash

Honeywell International Inc.,(Nasdaq: HON): Daily Chart, August 19, 2022,
HON Stock Market Analysis: Looking for a resumption of the overall uptrend. The move of the low appears to be impulsive as we can count a potential five-wave move.

HON Elliott Wave count: {v} of 3.
HON Trading Strategy: Looking for a break of wave (b) on the left and then potentially the end of wave 4 to then set up longs.

HON Technical Indicators: Above all EMAs and starting to form RSI divergence.

Analyst: Alessio Barretta

(Click on image to enlarge)

Honeywell International Inc., HON: 4-hour Chart, August 19, 2022,

Honeywell International Inc., Elliott Wave Technical Analysis
HON Stock Market Analysis: Looking for continuation higher, the 1.618 3vs 1 is at 207$ which represents the next target.

HON Elliott Wave count: Wave {v} of 3.
HON Technical Indicators: All technical indicators suggest further upside.

HON Trading Strategy: On short time frames every pullback should be supported therefore look for longs.

(Click on image to enlarge)

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