Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Honeywell International’s stock price (HON) fell in the intraday levels after the resistance of $196.00 held on, while touching the resistance of the 50-day SMA, doubling negative pressures, with negative signals from the RSI after reaching overbought levels, with the stock hurt by piercing the upward secondary short-term trend line previously.
Therefore we expect more losses for the stock, targeting the support of $189.75, provided the resistance of $196.00 holds on.
Trend forecast: Likely Bearish