Notice that no one comes on this message board to defend the drop in the stock price. All the "experts" who were dreaming of $100 a share stock price and 2 for one or even 3 for one stock split have disappeared. Will an "expert" please explain the price drop and why this stock hasn't or won't reach $100 a share anytime soon.
To loosely paraphrase P Diddy, "It's all about the Bollingers, baby".. Upper Bollinger got hit too many times and the stock rolled over to the Lower level. The RSI, W%R, and MACD all followed. Now the stock has technicals beginning to bottom out and we get a bounce today. With any luck, the bounce will hold. Looking over the landscape of industrial companies, the majority are at or near 52 week highs. They started to collapse with fears over Russian business getting removed and the weakness in China. CAT is up because they were the dog of the group for so long.
HON and GE are the among the first, yet again, to reach the bottom of the technical swing. I would expect this to trade fairly sideways with perhaps another 3% or so down before bottoming and moving higher. They are increasing business opportunities in China and the US and are putting a nice tailwind behind the fundamentals as per recent comments on M&A/Dividend/Buyback spending over the next 5 years.