HON rises to highest close since March 26th


Honeywell International Inc. (HON) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team

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

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 Candlestick Chart (HON as at Apr 16, 2018):

Daily technical analysis candlestick chart for Honeywell International Inc. (HON) as at Apr 16, 2018

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.

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

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

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


Market Conditions for HON as at Apr 16, 2018

Loading Market Conditions for HON (Honeywell International Inc.)...
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