By
Peter Mathers
of
Trading Lounge
Wednesday, December 7, 2022 4:59 AM EDT
Honeywell Inc., Elliott Wave Technical Analysis

Honeywell Inc.
Honeywell Inc., (HON): Daily Chart, December 7, 2022
HON Stock Market Analysis: Moving as expected as we are entering potential wave 4 and for the time being finding support on the 20EMA
HON Elliott Wave Count: Wave 4 of (1).
HON Technical Indicators: Above all EMAs.
HON Trading Strategy: Looking for longs into wave 5 knowing the up side could be limited.
TradingLounge Analyst: Alessio Barretta

Honeywell Inc., HON: 4-hour Chart, December 7, 2022
Honeywell Inc., Elliott Wave Technical Analysis
HON Stock Market Analysis: So far the down move has been a three wave move which confirms the count allowing for further upside. We are also approaching the parallel trend channel which often times acts as support.
HON Elliott Wave count: Wave {c} of 4.
HON Technical Indicators: RSI slowly entering oversold territory.
HON Trading Strategy: Looking for longs into wave {v}.

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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 ...
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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 trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.
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