Honeywell price declines for first time in five sessions - Forecast today - 25-04-2024

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