Honeywell (HON) Price Forecast: Key Support Retest Signals Strength

Author: Bruce Powers

Published: April 08, 2026

Key Points

• Breakout above $223 confirms long-term bullish trend.
• Pullback tests and defines key support zone.
• 20-day moving average reclaim signals improving momentum.
• $219.83 swing low critical for trend stability.
• Below $219 opens path toward $211–$210 support zone.

Breakout Sets Stage for Trend Continuation

A long-term base breakout occurred in Honeywell International (HON) stock in late January when it moved above $223.16. This marked the third and most successful attempt to surpass the 2021 high, culminating in a new record high of $248.18 before a pullback began. This pullback is the first since the breakout and has established a potential support zone for traders.

Retracement Defines Key Support Levels

The recent bearish retracement established a low at $219.83, nearly completing a 50% retracement of the prior upswing at $217.47. On the weekly chart, the 20-week moving average provides near-term dynamic trend support, while the 100-day moving average serves as a key support level on the daily chart, currently at $216.87.

Reclaim of Short-Term Momentum

On a recent Wednesday, strength was observed in the reclaim of the 20-day moving average for the first time since it was broken in early March. The session's full range remained above the 20-day average, confirming a shift from resistance to support. The next step is for this level to hold as support; otherwise, bearish signals may strengthen, potentially leading to a test of the 100-day moving average.

Bull Trend Hinges on Support Confirmation

Once prior resistance is successfully tested as support, the bull trend should be poised to continue to higher prices. The breakout zone near $223.16 has been successfully tested, reinforcing its role as a key support level within the broader trend structure. However, continued confirmation of strength is necessary to sustain the bullish outlook and maintain upside momentum. If the current retracement is not complete, a drop below the higher swing low at $219.83 would indicate support near the 200-day moving average at $211.21 and the 61.8% Fibonacci retracement at $210.22.

Conclusion

The analysis of Honeywell's stock indicates a critical juncture where support levels are being tested. Traders should monitor the $219.83 level closely, as its stability will determine the continuation of the bullish trend or a potential shift towards bearish signals.

About the Author

Bruce Powers is a seasoned finance MBA and CMT® charter holder with over 20 years of experience in financial markets. He has served as head of trading strategy at hedge funds and as a corporate advisor for trading firms, providing actionable insights through both technical and fundamental analyses.