Honeywell International Inc. (HON) declined in its latest intraday trading after colliding with the resistance of its previous 50-day SMA, with the firmness of the pivotal resistance level at $195.20 further intensifying the negative pressure surrounding the stock. In addition, the RSI indicators have reached extremely overbought levels in an exaggerated manner compared to the price movement, suggesting the early formation of a bearish divergence.

Therefore we expect the stock to decline in its upcoming trading, as long as it remains below the mentioned resistance level of $195.20, targeting the support level of $186.75.

Todays price forecast: Bearish