Honeywell International Inc. (HON) stock rose in its latest intraday trading, driven by positive signals in the Stochastic indicators. However, these have reached strongly overbought levels, exaggerated relative to the price movement, suggesting the beginning of a negative divergence. The short-term corrective bearish wave remains in control, with ongoing negative pressure from trading below its previous 50-day SMA, which adds to the surrounding bearish momentum.

Therefore, we expect the stock to decline in its upcoming trading, as long as the resistance level of 230.60 holds, to then target the support level of 214.20.

Todays price forecast: Bearish.