Friday, January 27, 2023 7:43 AM EDT
Image Source: Unsplash
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.
More By This Author:
Elliott Wave Technical Analysis: Bitcoin / U.S. Dollar - Friday, Jan. 27
Commodity Markets:Lower Dollar & Yields, Higher Commodities
Elliott Wave Technical Analysis: Deere & Co., Thursday, Jan. 26
Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...
more
Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.
less
How did you like this article? Let us know so we can better customize your reading experience.