The bullish DailyPlay we chose for Wednesday, May 15th is Honeywell (HON). HON is part of the Industrial Sector (XLI). XLI has declined 3.12% lower over the past month and its 1m and 6m trend turned neutral and bearish on May 13th but just bounced higher off its $74 support level.
Honeywell’s 1m and 6m trends turned neutral and bullish on May 13th and recently bounced higher off its $165 major support level yesterday. With a technical score of 8 (out of 10), HON is a strong stock that will likely continue higher.
As a stop loss, if HON was to trade below $165 for multiple days, this would invalidate our analysis and suggest getting out of the trade.