HON break above $241.72 to initiate a new bullish leg toward $245-$250

$Honeywell(HON)$

Honeywell (HON) Inches Up +0.61%: Testing All-Time High at $241.72, Momentum Builds

Latest Close Data

Closed at $239.84 on Feb 10, up +0.61% ($1.46). The stock is trading just $1.88 (0.78%) below its 52-week high of $241.72.

Core Market Drivers

The stock continues to ride strong momentum, driven by robust earnings performance (EPS TTM: $8.04) and a solid ROE of 28.20%.
Recent executive appointments in key divisions like Building Automation and Aerospace signal a focus on operational excellence and future growth.

Technical Analysis

Volume was subdued at 3.01M shares (Volume Ratio: 0.63), indicating consolidation.
The MACD remains in a bullish trend with DIF at 8.69 and DEA at 7.45, showing positive momentum.
However, the RSI(6) at 83.79 is in overbought territory, suggesting a potential near-term pullback or consolidation is needed before a sustainable breakout.

Key Price Levels

* Immediate Pivot/Resistance: $241.72 (52-Week High). A confirmed close above this level is critical for a new bullish leg.

* Primary Support: $237.00 (Today's Low). A break below may signal a short-term correction.

* Stronger Support: $209.26 (Previous Support).

Valuation Perspective

Forward P/E of 22.76 is above its historical average of 20.84 and the +1 Std. Dev. of 22.05, indicating the stock is trading at a premium to its own history, pricing in strong future growth expectations.

Analyst Targets

24 analysts have an average price target of $240.01, closely aligned with the current price. Sentiment is bullish with 3 Strong Buy, 15 Buy, 11 Hold, and 1 Underperform ratings.

Weekly Outlook

Expect consolidation between $237 and $242 as the stock digests overbought RSI levels. A decisive breakout above $241.72 could target the $245-$250 range. A failure to hold $237 may see a test of the $230-$232 support zone.

Risk Disclaimer

This analysis is for informational purposes only and not financial advice. Past performance does not guarantee future results. Investing involves risk, including the potential loss of principal.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.