HON: Been Low Growth: Waiting for a $140 TargetFirst off, please don't take anything I say seriously or as financial advice. As always, this is on opinion based basis. That being said, here are my insights: Honeywell needs to soon pass that $140 price target, which is where it is expected to go within a week or so. Between my analysis on May 2nd and now, Honeywell barely grown at all and as an industrial conglomerate it is a stable growth stock in general, but not a high growth stock. It also had a large hit during the Covid19 period. That being said, currently I am bidding on higher growth stocks to invest in over Honeywell. The short target is $140 with potential of a stable hold with low to mid risk.
Honeywell
Currently Bidding Against HoneywellFirst off, please don't take anything I say seriously or as financial advice. As always, this is on opinion basis. This being said, let me get into a few key points. Honeywell had a good run, but the past few years weren't great growth-wise. They took a hard hit during the Covid period, (especially compared to other industrial conglomerates). Also, many analyst are giving it a sell rating. I'm not at all saying it doesn't have long potential, but at this moment it doesn't look good.
Honeywell in Wave 3 (daily); Run up to earningsI believe we're in a Wave 3 on the daily chart. Price target $195. I think, between now and earnings (1/27), there will be global forces (i.e., trade deals, appeasing fed, etc.) that will run this (and similar equities) up a to earnings. My price target may be included with the result of earnings , which from what I've briefly read should be a turnaround story from Q319. I'll look to buy Call Weekly Call options expiring right before earning if price breaks through and closes above the supply zone of $180.68.
What to do now the Honey Pot is refilled?Honeywell finally funded their Enron, WorldCom style 401K retirement plan, with shares out of thin-air. The shares were at the current price and never mind the missed dividend payments, but they did follow through... The question is when to trade them off. As the S&P trades up into the 61.8% Fibonacci range, all other stocks will top out as well. For me, the best idea is to step aside as we are on the cusp of a significant sell-off...
Who Kicked Over the Honey Pot?Elven Billion worth of stock buybacks isn’t going to look so Brilliant when they are 50% under water. This is the time to be issuing stock, sitting on a nice cash position, and looking at what companies you want to buy at a huge discount this Summer… You listening Darius?
Honeywell to trade down with the market in the new year…
Honeywell - possible pipe bottom on monthly timeframe 7% longWait for continued confirmation, but looks like target of 159 and stop of 129 for this long trade following a pipe bottom pattern.
Honeywell Cyclical Wave CountThis is a company I’m intimately familiar with. Notice this is drawn as an upwards correction. Honeywell is a company with fabulous Cash Flow Control. This company is the epitome of Financial Engineering, but that is the problem. In the 90’s, the price action can be construed as being impulsive, meaning that the prospects for the company were on an upwards trajectory. Since 2000, the price action has been definitely corrective.
This is because Honeywell has replaced its pioneering Engineering and Inventive Heritage with the likes of Business Carve-Outs, $11 Billion Share Buybacks and dividend raises, showing Investors that they don’t have any good business ideas. They are also famous for buying businesses, firing most of the Americans, running off talented Engineers, Inventors, and Entrepreneurs, replacing them with H1B’s and foreign manufactories, with the end effect of quartering Sales Volumes…
I’m projecting a drop back down below $138 before a potential final Run-up with the market between $185 and $205. After that its Bombs Away, unless Honeywell starts applying its world class Control Systems to its businesses, and investing in Innovation and future business prospects. Remember people, corrections eventually complete retrace.
Upside breakout on Honeywell (HON)Upside breakout on Honeywell (HON)
Technical event: falling wedge, trend channel, money flow index and increased volume
Target at 7.5% with a tight stop-loss set at 3.25%.
Honeywell shares Sell IdeaHoneywell shares Sell Idea @Weekly Supply Zone (147.44 - 151.66)
Sell Limit: 147.36
Stop Loss: 152.10
Take Profit: 137.83
Honeywell ( $HON ) possible double bottom?I'm looking into $HON providing a double-bounce on the daily chart. Linear Regression and the Regression clouds show it is below value, but I have not checked for catalysts. This one's on my watch list.
HONEYWELL topsAnother stock which reached a long term 2.618 finonacci extension level, it's HON . There are two additional signs for top formation. First, the fibonacci extension coincides with a rising resistance line. Second, the RSI shows a extreme overbought level, last seen in 2007. However, in 2007 NYSE:HON set its top a little higher and a few months later.
Entering a speculative short position should be combined with a tight stop, or just wait for confirmation.
