Honeywell International Inc.s stock price (HON) extended its rise in latest intraday trading, preparing to attack the pivotal resistance level of $242.77, amid the dominance of the main upward trend in the short term and trading alongside a rising trend line. The stock also maintains ongoing positive pressure due to trading above the 50-day SMA. However, in contrast, we notice negative signals starting to stream from the Stochastic after reaching extremely overbought levels, which raises the possibility of some corrective pullbacks aiming to vent off this saturation and gather the positive momentum needed to breach that resistance.

Therefore we expect the stock to rise in upcoming trading, provided it first breaches the aforementioned resistance of $242.77, targeting the next resistance at $260.00.

Todays price forecast: Bullish