When the Price of Honeywell International HON Talks, People Listen

August 26, 2021, 21:15 pm ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Honeywell International (NYSE: HON) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for HON can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for HON

• Buy HON slightly over 225.17 target 239.07 stop loss @ 224.52 Details

The technical summary data tells us to buy HON near 225.17 with an upside target of 239.07. This data also tells us to set a stop loss @ 224.52 to protect against excessive loss in case the stock begins to move against the trade. 225.17 is the first level of support below 230.88 , and by rule, any test of support is a buy signal. In this case, support 225.17 would be being tested, so a buy signal would exist.

• Short HON under 239.07, target 225.17, stop loss @ 239.76 Details

The technical summary data is suggesting a short of HON as it gets near 239.07 with a downside target of 225.17. We should have a stop loss in place at 239.76though. 239.07 is the first level of resistance above 230.88, and by rule, any test of resistance is a short signal. In this case, if resistance 239.07 is being tested, so a short signal would exist.

Swing Trading Plans for HON

• Buy HON slightly over 230.90, target 239.07, Stop Loss @ 230.23 Details

If 230.90 begins to break higher, the technical summary data tells us to buy HON just slightly over 230.90, with an upside target of 239.07. The data also tells us to set a stop loss @ 230.23 in case the stock turns against the trade. 230.90 is the first level of resistance above 230.88, and by rule, any break above resistance is a buy signal. In this case, 230.90, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short HON near 230.90, target 227.03, Stop Loss @ 231.57. Details

The technical summary data is suggesting a short of HON if it tests 230.90 with a downside target of 227.03. We should have a stop loss in place at 231.57 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 230.90, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for HON

• Buy HON slightly over 230.90, target 232.78, Stop Loss @ 230.36 Details

If 230.90 begins to break higher, the technical summary data tells us to buy HON just slightly over 230.90, with an upside target of 232.78. The data also tells us to set a stop loss @ 230.36 in case the stock turns against the trade. 230.90 is the first level of resistance above 230.88, and by rule, any break above resistance is a buy signal. In this case, 230.90, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short HON near 230.90, target 227.03, Stop Loss @ 231.44. Details

The technical summary data is suggesting a short of HON if it tests 230.90 with a downside target of 227.03. We should have a stop loss in place at 231.44 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 230.90, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

HON Ratings for August 26:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Strong
P1	0	0	225.17
P2	230.73	227.03	239.07
P3	232.78	230.90	252.73

Support and Resistance Plot Chart for HON

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