Honeywell tumbles - Analysis - 18-07-2019

Honeywell's stock skidded in the last session, piercing the upside medium-term trend line and trespassing the support of the 50-day SMA, doubling pressures, especially amid negative signals from the RSI, thus commencing a downward wave in the short term. 

Therefore we expect more losses for the stock, especially if the support of 167.76 was breached, targeting the next one at 162.66. 

Expected trend for today: Bearish