Watch Honeywell for a possible breakout above $59 on strong volume...if not, then keep an eye for another bounce off the 50dma for a good entry.

http://stockcharts.com/h-sc/ui?s=HON...d=p52380254797

Good Luck.

__________________



I think Ben has a migraine.

I'll have to watch that one to see what it does.

The CMF has moved back above the zero mark, MACD crossed over the 9 day, although it's been diverging downward but it's holdin back above the zero. The RSI is getting up there but not into overbought yet. Looks like there's been a slight decline in vol over last couple months but I'll watch for an increase like you say. I looked at the full sto but I'm still trying to learn that one so I probably don't see something that I should, lol. This will be a good one for me to watch and learn. Thanks Griz

I think what Grizz is looking at is this is moving pretty strong at setting a new high. A triple bottom of sorts coming off support several times while the charts reset themselves for another possible strong move upward. RSI was in a bit of a downtrend and just broke through that trendline. Other indicators are rolling upward again. If it does take out 59 it just may keep moving.

__________________
"Always bear in mind that your own resolution to success is more important than any other one thing." - Abraham Lincoln

"The heights by great men reached and kept, were not obtained by sudden flight. But they, while their companions slept, were toiling upward in the night." - Longfellow

Most people only dream of market success. One day I woke up and decided to go get it. - Klipper22

Yup...you've got me pegged here on the t/a Klipper. Looks like it could be ready now to break out to new highs. Honeywell is a well run multifaceted company. They have just landed another deal "Honeywell Gets $7 Million Deal From Total SA for UK Oil Refinery"...

http://biz.yahoo.com/ap/070705/honey...ract.html?.v=1

...and the Dreamliner is getting lots of attention here in Seattle, and will get its share Nationwide as well, imo...

The Airline industry may be struggling but BA is doing well...they have just hired back all of the layoffs from the previous few years and are desperately looking for more (side note...how desperate? Well, I was offered a job...lol..but I turned it down)...

http://www.reuters.com/article/topNe...0070708?rpc=44

Anyway, Honeywell makes the controls for the new 787...

Like I said, if it doesn't want to make new highs yet and go....then watch for an entry at the 50dma, its been a historical place for HON to find its support.

Good Luck.

__________________



I think Ben has a migraine.

Thats the route I decided to take (and still do) when I started in the market just a few years ago... always look to learn as much as possible, from my own perspective as well as from the others around me. Thumbs up!

Good Luck.

__________________



I think Ben has a migraine.

Thanks for all your insight guys.

Yes, I see what you are saying about the triple bottom support last few months at around 56 holding strong despite the downtrend of those other indicators. Also, makes sense about the RSI coming out of that long downtrend and pointing back up almost to 70 so quick with all those other indicators turning up after headed down last few months like the MACD & CMF, I think you're right, looks ripe! Will the volume start to increase gradually you think or do a big jump like back around April 21 on the chart? I guess smart money will hop on it?

So, what you're saying is that if it doesn't keep going up past 59 then it might do one more drop to where the candle patterns hit and bounce off wherever the 50dma line is as support thereby producing a quadriple bottom basically and then probably take off from there?

Just trying to get a clear picture in my head of what you're saying there Griz. Thanks!

Whoops accidentally edited instead of replying...


I don't know that it would necessarily go straight down to the 50DMA or not, but I try and create a thesis, If you will, for any given play....that being said, for trading purposes, I'd enter this stock on a break of the 59 resistance level on a volume surge or I'd probably look to enter on a touch back at the 50DMA if it appeared that it would hold support there like it has in the past...um on my bberry so I can't, but pull up a couple year chart on this and look where it has found its support before....

If neither of these scenerios play out, or if there is something that fundamentally changes this stocks landscape in the meantime, then my thesis was inaccurate, and my possible play is no longer there. Do not force a stock to do what you think it will do, instead make your thesis, and trade what you see, or move on.

Hope this helps.

Good luck.

__________________



I think Ben has a migraine.

Thanks, I'll be watching to see how it goes.

Dropped a little.. See what it does next few days. Hopefully it'll bounce.