Honeywell holds steady near record highs
Honeywell (-0.0%): the buy signal holds steady near its record highs
Honeywell holds steady near record highs
Our view last week
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.
This week's summary
On the daily chart Honeywell lines up five higher lows, from the 218 area to the 237 area, with price hugging the upper edge of the weekly Bollinger band. Honeywell stock closes its confirmation week essentially flat (-0.0%): setup quality at 73 out of 100, still in tension, and moderate signal strength, 47 out of 100. Our model suggests holding the position unchanged.
IQS Phase
73
in tension
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#75 / 120
US stocks in progress
Trade P&L %
-0.04%
from signal to date, no stop loss
Rank position
ranks 75th among the 120 Longs already running for US stocks in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimein positive regime
Performanceweekly -1.54% · monthly -1.92%
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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