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Honeywell (HON) Stock Trending to Reach New All-Time Highs This Year

NEW YORK (TheStreet) -- Honeywell International (HON - Get Report) looks like it is getting ready to break out to new 52-week highs.

In this chart of HON, above, we can see how HON held up well in 2015 and only in late August did it make a quick shakeout to the downside. It quickly recouped half of the decline in a rebound to the 50-day Moving Average. There was a retest of the August decline, which was followed by a rally to the September highs and then another dip before shooting over the September highs. The On-Balance-Volume (OBV) line has improved with the price action.

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In this longer look at HON, above, we can see a strong rally with only quick and shallow corrections. The OBV line is flat, but prices are back over the 40-week MA. The Moving Average Convergence Divergence oscillator is generating a bullish crossover from below the zero line. Considering the short-term and long-term technicals for HON, we anticipate that HON will try to push up to new 52-week highs before the end of...