Elliott Wave Technical Analysis: Honeywell International Inc. - Wednesday, Oct. 26

red and blue light streaks

Photo by Maxim Hopman on Unsplash
 

Honeywell International Inc., (Nasdaq: HON): Daily Chart, October 26, 2022, 

HON Stock Market Analysis: There is a possibility we have a significant bottom in the place shown. The alternate would be we just completed wave 1 of (C).

HON Elliott Wave count: Wave 3 of (1)

HON Technical Indicators: We are now touching the 200EMA with strong upside momentum.

HON Trading Strategy: Concerning long-term positions, it’s better to wait for a break of wave (B)to invalidate the bearish alternate.

Analyst: Alessio Barretta

Honeywell International Inc., HON: 4-hour Chart, October 26, 2022

Honeywell International Inc., Elliott Wave Technical Analysis

HON Stock Market Analysis: Looking for a nest within wave 3 which should take us higher. We are close to 1.618 3 vs 1 as shown, however, if the count is unfolding as labeled we could easily expect to reach 2.618.

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

HON Technical Indicators: Above all EMAs

HON Trading Strategy: Looking to place long on every three wave pullback starting from the potential upcoming wave (iv).


More By This Author:

Elliott Wave Analysis: US Indices - Wednesday, Oct. 26
Elliott Wave Technical Analysis: PepsiCo Inc. - Tuesday, Oct. 25
Cardano (ADAUSD) Elliott Wave Technical Analysis 25 October 2022

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
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.