Honeywell rises after piercing downward trend line - Analysis - 16-08-2022

Honeywell's stock (HON) kept rising in the intraday levels amid support from the 50-day SMA, while buoyed by piercing the main downward short-term trend line, with positive signals from the RSI despite reaching overbought levels, with the stock rising 0.69% in the last session, or 1.38 points, and settling at 202.25. 

Therefore we expect more gains for the stock, targeting the first resistance at 206.40, provided it settles above 198.00.

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Expected trend for today: Bullish