Honeywell International Inc. (HON) stock posted cautious gains in its latest intraday trading, as it attempts to recover part of its previous losses while also beginning to relieve its clear oversold condition on the Stochastic indicators, particularly with the emergence of a positive crossover. However, this comes within the framework of a short-term corrective bearish trend, while the stock continues to face negative pressure from trading below its 50-day SMA, which limits the chances of a full recovery in the near term.

Therefore we expect the stock price to decline in its upcoming trading, as long as it remains below the $221.00 resistance level, targeting the key support level at $208.00.

Todays price forecast: Bearish.