Honeywell doesn't have the strength to keep moving up

09 August 2022 138
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Honeywell stocks closed the gap at 192 at the end of July and then went into a weak flat. Yesterday, buyers attempted a resumption of growth, but the trading session closed right where it started. The result is the reversal pattern "doji star", which is additionally strengthened by the RSI indicator, which reached the overbought zone.

 

As the target for the reduction, the 185 level can be considered. It was a support for Honeywell stocks during the Spring, and there is also an unclosed gap formed after the quarterly report on July 28.

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