Honeywell International Inc Stock Code HON.NYS
Outlook
Price moved below the cloud 3 days ago and Conversion and Base lines had a bearish crossover earlier, confirming the bearish trend. While price was moving higher since June, MACD had failed to make higher peak with price. Each of MACD’s peaks was lower than the previous peak, hinting of a possible price high. MACD is bearish at the moment; both its lines are below the zero line. Price could be heading to the Fibonacci 50% correction point of the rally from late Dec 2018 to the high at $178.50.
Strategy
$168.10 Short Sell
$150.10 Price Target
$174.00 Risk Management Stop
3 weeks Trade Duration
Nike Inc. Stock Code NKE.NYS
Outlook
Price dropped below the cloud 3 days ago, confirming the bearish trend. Both Conversion and Base lines had a bearish crossover earlier as well, reinforcing the bearish trend. Lagging Span is below the cloud, confirming the bearish trend. On the downtrend, it looks like price could have formed a 1-2-3 and it is in a 4th wave correction, hinting that one more decline could be on the way later. MACD has turned bearish with both its lines below the zero line.
Strategy
$83.05 Short Sell
$77.10 Price Target
$86.05 Risk Management Stop
3 weeks Trade Duration
