Set the Thermostat Higher for Fall

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.


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