22.07.2016 - Price of Honeywell can rebound after the sharp fall

Price of Honeywell after a long consolidation, showed a sharp decline with a gap down and reached the support level at 112.80. In the case of continuation of the current negative dynamics the price may continue to fall to the lower boundary of the rising channel and support at 110.50. In the near future there is a high probability of a rebound and in such case, the first target will be the level of 116.00, after overcoming of which a positive trend which may continue until 118,00. Our medium-term outlook is positive.

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