Elliott Wave Technical Analysis: Honeywell International Inc. - Wednesday, Nov. 16

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Nov 16, 2022 at 6:00 AM EST

We have a strong RSI bearish divergence, we could be looking for quick shorts once we get the initial move down to have us started with wave 4.

red and blue light streaks

Photo by Maxim Hopman on Unsplash

Honeywell International Inc., Elliott Wave Technical Analysis

Honeywell International Inc., (Nasdaq: HON): Daily Chart, November 16, 2022,

HON Stock Market Analysis: It has been moving as expected since the last forecast. We are looking for a potential wave 4 to come soon to then be able to complete this five-wave sequence into wave (1).

HON Elliott Wave Count: Wave {v} of 3.

HON Technical Indicators: Above all averages, RSI bearish divergence.

HON Trading Strategy: Waiting for a pullback in wave 4 to then consider longs.

Analyst: Alessio Barretta

Honeywell International Inc., HON: 4-hour Chart, November 16, 2022

Honeywell International Inc., Elliott Wave Technical Analysis

HON Stock Market Analysis: We could have a potential ending diagonal in wave {v} as labeled.Looking for a harp move lower soon.

HON Elliott Wave count: Wave (v) of {v}.

HON Technical Indicators: Above all averages, RSI bearish divergence.

HON Trading Strategy: We have a strong RSI bearish divergence, we could be looking for quick shorts once we get the initial move down to have us started with wave 4.

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