Honeywell returns higher - Analysis - 12-01-2021

Honeywell's stock (HON) returned higher with a 1.34% profit in the last session, settling at 216.31, while buoyed by a positive pattern that formed in the short term, the Double Bottom pattern, supported by trading above the 50-day SMA, with positive signals from the RSI, settling eventually at 216.31.

Therefore we expect more gains for the stock, targeting the resistance of 224.65, provided it holds above the support of 211.37.

Expected trend for today: Bullish