09.09.2016 - Quotations of Honeywell can change the trend to negative

Price of Honeywell showed a sharp decline during which reached the lower boundary of the rising channel. In case of continued negative dynamics and consolidation below the support level at 112.85, we recommend to open short positions with potential targets at 110.50 and 106.10. On the other hand, the price can rebound upward from the bottom channel and test the resistance levels at 118.00 and 120.00. Our medium-term outlook is positive.

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