Honeywell International Inc.(HON:NASDAQ) Elliott Wave Technical Analysis December 13 2022

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Honeywell International Inc., Elliott Wave Technical Analysis

Honeywell International Inc., (HON:NASDAQ): Daily Chart, December 13 2022, 

HON Stock Market Analysis: Moving higher as expected from the previous forecast. We are looking at one last move higher into wave 5 to then complete higher degree wave (1).

HON Elliott Wave Count: Wave 4 of (1).

HON Technical Indicators:20EMA acting as support,

HON Trading Strategy:Looking for further confirmation that wave 4 has finished before considering longs.

TradingLounge Analyst: Alessio Barretta

 

 

 

 

Honeywell International Inc., HON: 4-hour Chart, December 13 2022

Honeywell International Inc., Elliott Wave Technical Analysis

HON Stock Market Analysis:It looks like we have a clear five wave move in wave {c} and the overall correction could be finished as we are also reacting from the parallel trend channel.

HON Elliott Wave count: Wave {c} of 4.

HON Technical Indicators: 20EMA acting as resistance.

HON Trading Strategy:Looking for longs once we break the top of wave {b} and we see a clear five wave move off the lows.