Despite an Earnings Beat, Honeywell Shares Could Decline in the Weeks Ahead

Despite an Earnings Beat, Honeywell Shares Could Decline in the Weeks Ahead

Honeywell International reported better than expected earnings numbers today and the stock is higher, but the charts and indicators suggest we could see weakness in the weeks ahead. In this daily bar chart of HON, below, we can see signs of weakness and bearish divergences. In the lower panel is the 12-day price momentum study or indicator which shows lower highs from late April to June to now.