New York, August 2nd (TradersHuddle.com) - Shares of Honeywell International, Inc. (NYSE:HON) are trading very close to calculated support at $51.99 with current price action closing at just $53.06 places the stock price near levels where traders
will start paying attention.
Honeywell?s (NYSE:HON) principal activity is that of a diversified technology and manufacturing company. It serves customers worldwide with aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials and process technology for refining and petrochemicals etc. It also manufactures engine boosting systems for passenger cars and commercial vehicles.
Honeywell's current stock range is defined by current calculated support defined at $51.99 and by the resistance level at $60.65, which should be used by traders planning their trades.
Traders wanting to establish a position should place close attention to Honeywell's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $60.65 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.
Honeywell?s (NYSE:HON) principal activity is that of a diversified technology and manufacturing company. It serves customers worldwide with aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials and process technology for refining and petrochemicals etc. It also manufactures engine boosting systems for passenger cars and commercial vehicles.
Honeywell's current stock range is defined by current calculated support defined at $51.99 and by the resistance level at $60.65, which should be used by traders planning their trades.
Traders wanting to establish a position should place close attention to Honeywell's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $60.65 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.
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