HON rises to highest close since March 26th


Honeywell Int'l Inc. (HON) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
HON closes below its opening price unable to hold early session gains
HON rises to highest close since March 26th
HON still stuck within tight trading range
HON closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

HON finished Monday at 146.75 gaining $0.63 (0.43%). Today's closing price of 146.75 marks the highest close since March 26th. Trading $0.74 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for HON
Volatility

Monday's trading range was $1.69 (1.15%), that's far below last trading month's daily average range of $2.87. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 143.95 and 148.13 which it has been in now for the last trading week.

Support/Resistance

Prices are trading close to a key support level at 146.34.

Trend

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Selling could accelerate should prices move below the nearby swing low at 143.95 where further sell stops might get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Honeywell Int'l Inc.
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 200 TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
More market conditions identified for TQ Pro members...
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