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Honeywell Is Ready to Rally

Bruce Kamich

A deeper decline could unfold in the next few weeks with prices testing the $140 area or lower." Looking over a chart today we can see that in April and May HON tested the $140 area. In this daily bar chart of HON, below, we can see that after two tests of the $140 level HON has firmed up above the rising 200-day moving average line and the now rising 50-day line. Many technical analysts consider the golden cross a late but a bullish signal that can be successful in trending markets.