$HON - Honeywell International Getting Ready For A Huge Breakout

Honeywell International (HON) has always been sort of a conservative stock to trade, and is owned by many Funds and large institutions. For all those who aren’t aware of what HON is or does, here is a brief company profile:

Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment provides turbine propulsion engines, auxiliary power units, environmental control and electric power systems, engine controls, flight safety, communications, navigation, radar and surveillance systems, and aircraft lighting products for aircraft manufacturers, airlines, business and general aviation, military, space, and airport operations, as well as offers management and technical, logistics, aircraft wheels and brakes, and repair and overhaul services. The company’s Automation and Control Solutions segment offers environmental and combustion controls, and sensing controls; security and life safety products and services; scanning and mobility products; process automation products and solutions; and building solutions and services for homes, buildings, and industrial facilities. Its Performance Materials and Technologies segment provides resins and chemicals, hydrofluoric acid, fluorochemicals, nuclear services, research and fine chemicals, performance and imaging chemicals, chemical processing sealants, fibers and composites, healthcare and packaging products, specialty additives, electronic chemicals, semiconductor materials and services, catalysts, adsorbents and specialties, renewable fuels, and chemicals. This segment offers products for applications in the refining, petrochemical, automotive, healthcare, agricultural, packaging, refrigeration, appliance, housing, semiconductor, wax, and adhesives segments. It also provides process technology, products, and services for the petroleum refining, gas processing, renewable energy, and other industries. The company’s Transportation Systems segment offers charge-air systems, thermal systems, and brake hard parts and other friction materials for passenger cars and commercial vehicles.

Here is a Daily chart of HON:

HON - Daily Chart
HON - Daily Chart

After trading vertical for multiple months, the momentum has certainly slowed on HON.

Note: HON reports its earnings tomorrow.

Recommendation: SELL

Price Target: $82

If HON breaks that support around $82, it can DROP pretty fast, with Bears piling their shorts and Stops being triggered.

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