Honeywell International saw a positive improvement to its Relative Strength (RS) Rating on Thursday, with an upgrade from 68 to 71.
Can You Really Time The Stock Market?
IBD's unique RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the best stocks typically have an RS Rating of at least 80 in the early stages of their moves. See if Honeywell International can continue to rebound and clear that threshold.
Honeywell International broke out earlier, but has fallen back below the prior 230.47 entry from a cup with handle. In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to take shape. Also keep in mind that the most recent pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Honeywell International reported 7% earnings growth in its most recent report, while sales growth came in at 8%.
The company earns the No. 5 rank among its peers in the Diversified Operations industry group. Crane is the No. 1-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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