HON will be added as an Active Short Trade here on this break below this large bearish rising wedge pattern. Targets are marked on this daily chart with the exact suggest target levels to follow. A suggested stop on a move above 89.60 (just above the recent highs) offers a R/R of about 3:1 to my current preferred target of the T2 zone (76.30-75.40). As always, stops should be set commensurate with one’s own risk tolerance, trading style and preferred profit target.
On an administrative note: I’m noticing quite a few potentially significant technical developments today (obviously bearish). As the frequency of chart & commentary postings will likely increase this week, the automatic email notifications feature will be suppressed for some of the non-time sensitive posts (email notifications on actionable trade ideas such as this will continue to be sent immediately upon publication). The new feature to opt in or out of notifications on specific categories should also be available by the end of this week as well. As such, those signed up to receive email notifications may want to periodically check the site for new updates in which notifications may not have been sent out.