Important Stocks To Watch - Stocks At Or Near 50 MA, 200 MA, Chart Patterns

Honeywell's Stock Breaks Out Of Consolidation

After a recent consolidation near the 20 MA, Honeywell's stock has finally broken out of the consolidation.

A breakout of consolidation in an uptrend shows that the stock wants to go higher. Since HON is in an established uptrend, it is very likely that it will continue to move higher.

With the stock staying above its rising daily 20 MA and 50 MA most of the time, we can consider this stock to be in a strong uptrend. A stock that is in an uptrend will usually continue to go higher.

Consolidations are just periods of rest.

A consolidation at the 20 MA can be tradeable and traders can buy the breakout with a stop below the lows of the consolidation box.

We can often get a price target by taking the height of the previous move and then projecting it upwards from the base of the consolidation to get a realistic price target. If the move up is successful, it seems that Honeywell still has some way to go before it hits the target.

Charts with the Freestockcharts.com label are courtesy of Freestockcharts.com

Charts with the investing.com logo are courtesy of Investing.com powered by Trading View

  • Help support this page and press the Facebook Like button below. Thanks!

Join Dstockmarket's Facebook Page 

Recent Articles

  1. October 2021 Stock Market Analysis

    Oct 27, 21 09:09 AM

    Are the markets in an uptrend or downtrend? Where are the support and resistance areas? Stock market analysis for October 2021.

    Read More

  2. Technical Analysis Of Tesla Stock, TSLA

    Oct 26, 21 05:47 AM

    A look at Tesla stock chart using technical analysis. Is it in an uptrend or downtrend and where are the support and resistance?

    Read More

  3. Technical Analysis Of KLCI

    Oct 25, 21 09:20 PM

    Technical analysis of KLCI, learn the trend of the index and support and resistance areas.

    Read More

  4. Technical Analysis Of Oil Prices : Where Will Oil Go?

    Oct 24, 21 07:32 PM

    Analysis of oil prices. Is it in an uptrend or downtrend and where are the support and resistance.

    Read More

  5. CTXR, $2.30 To $4.50 In 12 Trading Days

    Oct 24, 21 07:03 PM

    Learn how the cup with handle pattern hinted of a big run in CTXR.

    Read More

New! Comments

Have your say about what you just read! Leave me a comment in the box below.