Set the Thermostat Higher – Honeywell is Moving Up
- Posted by Greg Harmon
- on November 5th, 2012
Honeywell, $HON, the maker of control systems, including your thermostat, has had a strong move higher since June continuing the long term trend higher since the 2009 bottom. From the daily chart below it shows a break of the short term resistance at 62 two weeks ago on their earnings report followed buy a Tweezers Top. The pullback found support at the rising trendline and is now
Honeywell, $HON, Daily
building a bull flag just under those highs. The Relative Strength Index (RSI) and Moving Average Convergence Divergence indicator (MACD) both support a continued push higher. The Measured move out of the flag higher takes it to 64.40. but it does not have to end there. The monthly chart shows that it is moving higher in the Andrew’s Pitchfork with no sign of letting up. Use the break over 63 as a long term entry and ride it higher. Oh and by the way, it also pays a 2.60% dividend to help pass the time.
Honeywell, $HON, Monthly
Join the Dragonfly Capital Views Premium Membership
Sign up here to get deeper analysis and nearly 50 trade ideas every week.
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 since 1986 and held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Premium Earnings 2-22-17: Cheesecake Factory and HP
- Momentum Points to Sector Rotation toward the Russell 2000
- Premium Earnings 2-21-17: TJX
- 4 Trade Ideas in Goldman Sachs: Bonus Idea
- 5 Trade Ideas for Tuesday: Commerce Bancshares, Cirrus Logic, McCormick, Ulta Beauty and Union Pacific
- Top Trade Ideas for the Week of February 21, 2017: The Rest Premium
- Top Trade Ideas for the Week of February 21, 2017: The Best
- SPY Trends and Influencers February 18, 2017
- Macro Week in Review/Preview February 17, 2017
- How This Week’s Top 10 Performed, February 17, 2017
Dragonfly Capital Updates