Long Position on HON @ $164.00 on 8/25/2020 (Momentum)

bullish cup and handle, $HONHoneywell International Inc. (HON) operates as a diversified technology and manufacturing company worldwide.

The Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; thermal systems; and connected solutions and data services for the aftermarket, as well as wireless connectivity, and management and technical services.

The company's Honeywell Building Technologies segment offers advanced software applications for building control and optimization; sensors, switches, control systems and instruments for energy management; access control; video surveillance; fire products; remote patient monitoring systems; e-cooling heat transfer agents; and installation, maintenance, and upgrades of systems.

Its Performance Materials and Technologies segment offers automation control, instrumentation, and advanced software and related services; catalysts and adsorbents, equipment, and consulting; and materials used to manufacture end products, such as bullet-resistant armor, nylon, computer chips, and pharmaceutical packaging, as well as Honeywell forge connected solutions.

The company's Safety and Productivity Solutions segment provides personal protection equipment, apparel, gear, and footwear; gas detection technology; and cloud-based notification and emergency messaging; and mobile devices and software; supply chain and warehouse automation equipment, and software and solutions; custom-engineered sensors, switches, and controls; and software-based data and asset management productivity solutions. 

Shares had formed a bullish "cup and handle" following the company's latest quarterly results. Last night, S&P Dow Jones Indices will make the following changes to the Dow Jones Industrial Average effective prior to the opening of trading on Monday, August 31: Salesforce.com (CRM) will replace Exxon Mobil Corp. (XOM), Amgen (AMGN) will replace Pfizer (PFE), and Honeywell International (HON) will replace Raytheon Technologies (RTX). This news will push shares higher out of its current bullish cup and handle.

 

Entry Point: $164.00

Stop Loss: $156.00

Trading Range: $101.08 - $184.06

Target Price: $180.50

Updates

9/16/2020 2:51:34 PM

HON closed at $171.10

Position closed on 9/16/2020 at price of $171.10 with a 4.33% gain in 22 days.

Back to Portfolio