Technical trade #6: Honeywell International (HON)

Posted Sep 6th 2009 1:00PM by Sam Collins
Filed under: Technical Analysis, Honeywell Intl (HON), Stocks to Buy

Honeywell International Inc. (NYSE: HON) is a diversified technology and manufacturing company. The stock tripled in price from late 2002 to early 2007.

But in June 2008, the stock broke support and plunged. By November, it was trading for less.

honeywell international

The stock established a solid "W" base with support at the 200-day moving average at $32. Then, on Aug. 24, HON broke out from a triple-top on very high volume -- a signal that could drive the stock to my target of $50.

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Tags: HON, honeywell international, sam collins, technical analysis, technical trades

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