Set the Thermostat Higher for Fall
- Posted by Greg Harmon
- on September 5th, 2013
Fall is on the way and time to flip the switch from air conditioning to heating (if you live where there are actual seasons). Honeywell ($HON) stock seems to be preparing for the switch as well. The maker of thermostats (oh and a bunch of stuff for the defense industry). The chart below shows that the pullback found brief support at the breakout level from July before continuing lower to the 100 day Simple Moving Average (SMA). Bouncing there it is now back at the rising 50 day SMA. A push through it gives a buy signal with a target of 86.60 on a Measured Move higher with only the previous high as
potential resistance along the way. The Relative Strength Index (RSI) is rising through the mid line and the Moving Average Convergence Divergence indicator (MACD) is about to cross higher on the signal line and the histogram. These support a move higher. If that were not enough it also pass a 2.1% dividend. So, what are you waiting for? Go get ready for fall.
Dragonfly Capital Views Anniversary Celebration
For a limited time the Opportunity to join the Dragonfly Capital Views Premium Membership on an Annual basis is available for only $600.
This is 20% off of the standard annual subscription price and nearly 45% off of a rolling monthly membership! Don’t miss this limited opportunity to join or upgrade! Sign up here.
Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through August 2013 Expiry and sign up here
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Top Trade Ideas for the Week of September 22, 2014: The Rest
- Top Trade Ideas for the Week of September 22, 2014: The Rest Premium
- Top Trade Ideas for the Week of September 22, 2014: The Best
- SPY Trends and Influencers September 20, 2014
- Macro Week in Review/Preview September 19, 2014
- Dragonfly Capital Views Performance Through September 2014 Expiry
- Recent Webinar: Technical Analysis For Options Trading
- Premium Earnings 9-19-14
- Some Perspective on Breadth
- Buy a Pint and Handle of Brew