Elliott Wave Technical Analysis: Honeywell International Inc., Sept.19

Elliott Wave Analyst - tradinglounge • Sep 19, 2022 at 6:49 AM EDT

Honeywell International Inc. is moving as expected, we have a deep wave 2 which often times is the usual. At this point we need to start moving higher or else the count will most likely be invalidated.

Honeywell International Inc., Elliott Wave Technical Analysis

Honeywell International Inc., (HON): Daily Chart, September 19 2022,
HON Stock Market Analysis: Moving as expected, we have a deep wave 2 which often times is the usual. At this point we need to start moving higher or else the count will most likely be invalidated.

HON Elliott Wave count: {c} of 2

HON Trading Strategy:Looking for a bounce in wave {i} to then place longs.

HON Technical Indicators: The RSI has reached oversold territory as well as the MACD.

TradingLounge Analyst: Alessio Barretta

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

Honeywell International Inc., Elliott Wave Technical Analysis
HON Stock Market Analysis: We nicely filled the gap on the left, represented by the highlighted rectangle. We also reached the 78.6% net retracement as well as past equality of {a} and {c}, highlighted by the orange line.

HON Elliott Wave count: {c} of 2.

HON Technical Indicators: Stating to form bullish RSI divergence

HON Trading Strategy: Look for a clear five waves up into wave {i} to then look for longs.

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