Elliott Wave Technical Analysis: Honeywell International Inc. - Wednesday, Aug. 30

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Honeywell Internationall Inc., Elliott Wave Technical Analysis

Honeywell Internationall Inc., (Nasdaq: HON): Daily Chart 30 August 2023

HON Stock Market Analysis: Looking for a potential (1)-(2) to then resume the overall uptrend. There is also a possibility this is an (A)-(B) and the upcoming upmove could just be the end of a larger three wave move to then resume lower and complete a primary degree wave 4.  

HON Elliott Wave Count: Wave (2) of 1.  

HON Technical Indicators: 20EMA as resistance.

HON Trading Strategy: Looking for longs after upside confirmation.

Analyst: Alessio Barretta

Honeywell Internationall Inc., HON: 4-hour Chart 30 August 2023

Honeywell Internationall Inc., Elliott Wave Technical Analysis
HON Stock Market Analysis: There is a possibility the downmove into wave C is completed as we can identify a five wave move to the downside. We seem to be finding support on the 0.618 C vs. A.

HON Elliott Wave count: Wave C of (2).

HON Technical Indicators: Between 20 and 200EMA.

HON Trading Strategy: Looking for longs into wave 1 of (3).

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