Technical indicators signal a Bearish Flag forming. Verify the setup on the chart.
Bearish continuation if preceding move was down.
Technical analysis of Honeywell (HON) reveals a significant setup. The stock is trading at $229.45, up 0.55% on the day. Algorithmically, a Bearish Flag structure has completed. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $219.83, targeting $169.19 with support near $230.5 (R:R 4.75).
What is your outlook on HON?