Honeywell International: An Expected Consolidation At The Current Level
Today’s instrument is the Honeywell Int. Inc.’s Corp. stock traded in the NYSE exchange under the ticker HON.
When we look at the HON’s chart, we can see it trading a downtrend as the overall market sentimentality continues to worsen. The past few days, it fell from $214 to $200 without any signs of slowing down, finally forming support at $199 and closing near breakeven during yesterday’s session. It was last found trading at $202.49 with the closest overhead resistance of $206 and support at $199.
Photo by Austin Distel on Unsplash
Today we can expect a move towards the $206 resistance or consolidation at the current level.
If however, it doesn’t manage to hold on to the current level then a move towards and below the $199 can be expected.
(Click on image to enlarge)
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