Honeywell spikes - Analysis - 05-05-2022

Honeywell's stock spiked 4.47% in the last session, settling at 205.85, with trading volumes surpassing 5.4 million shares.

The company reported profits of $1.91 per share for the first quarter, down from $1.92 a year ago, with net sales at $8.38 billion.

The stock rose alongside the upward correctional short-term trend line, buoyed by trading above the 50-day SMA, coupled with positive signals from the RSI.

Therefore we expect more gains for the stock, targeting the first resistance at 212.10, provided it settles above 199.39.

Expected trend for today: Bullish