Elliott Wave Technical Analysis: Honeywell, Inc., Wednesday, Dec. 7

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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