Honeywell: fresh buy near the highs
Honeywell climbs 8.1% off a double bottom, but the highs remain a crowded wall
Honeywell: fresh buy near the highs
Our view last week
Honeywell stock bounces for the second week running off its own 20-day moving average: a touch in the 221 area, a 2% recovery, boxed in a tight range between the 225 and 226 areas in our weekly technical analysis. The Sell signal, now in its sixth week of management, still isn't confirmed, and the short sits in a modest loss. With earnings due this week, the next move could come from the print.
This week's summary
Honeywell closes the week up 8.1%, powered by a double bottom in the 219 area that lifted the stock 16% off its low. The stock is still hugging its all-time highs though, a level already tested more than once: our model flags this as a high-risk opening, 5th among the week's 7 fresh US buys with a signal strength of 54 out of 100.
IQS Phase
70
in tension
Signal Strength
54
medium
Sizing
STANDARD
Ranking
#5 / 7
New us stocks
Trade P&L %
+0.00%
from signal to today
Rank position
ranks 5th among the 7 fresh Longs for US stocks in our ranking, with a signal strength of 54 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimein positive regime
Performanceweekly +1.81% · monthly +1.36%
HON belongs to the industrial sector (reference ETF XLI). The sector is classified in positive regime according to our weekly reading.
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