Honeywell Automation is trading in a triangle channel and Klinger is showing bearish divergence on monthly charts.
It can breakout on either side and target of 52800 or 21458 can be seen in coming year.
For trading the triangle channel bottom and top can be used.
Trade active
⋅
broke out the channel on upper side and the marked target target will come.
Comment
⋅
Trust the technical charts. Targets will come.
Comment
⋅
Dont sell its just testing the channel support boundaries. its gonna fly. This is a breakout stock and just retracing and removing weak hands.
Comment
⋅
Technically there is a hammer formation on chart and made higher high candle on weekly chart. Also on weekly chart it's forming inverted H&S pattern .... will get confirmation in couple of weeks