ForeCastle

After over a 13% fall year-to-date, at the current levels, we believe Honeywell stock (NYSE: HON) has more room for growth. But the daily price broke Ichimoku cloud to below for the primary bearish reversal: the price is testing Fibo level at 174 to below for the bearish trend to be continuing. Alternatively, the RSI indicator is showing for the oversold level for the daily price and the secondary ranging with possible bouncing to be above is more likely for the bear market rally to be started.

more...