If history is any guide, there may be trouble ahead for shares of Honeywell International HON. A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.
What To Know: Many traders use moving average crossover systems to make their decisions.
When a shorter-term average price crosses above a longer-term average price, it could mean the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is lower.
Why It's Important: The 50-day and the 200-day simple moving averages are commonly used.
The death cross occurs when the 50-day moves below the 200-day. This could mean the long-term trend is changing.
That just happened with Honeywell International, which is trading around $226.06 at publication time.
Remember: Seasoned investors don't blindly trade Death Crosses.
Instead, they use it as a signal to start looking for short positions based on other factors, like price levels and company fundamentals & events.
For seasoned investors, this is just a sign that it might be time to start considering possible short positions.
With that in mind, take a look at Honeywell International's past and upcoming earnings expectations:
Quarter | Q3 2021 | Q2 2021 | Q1 2021 | Q4 2020 |
---|---|---|---|---|
EPS Estimate | 1.99 | 1.94 | 1.80 | 2 |
EPS Actual | 2.02 | 2.02 | 1.92 | 2.07 |
Revenue Estimate | 8.65B | 8.63B | 8.09B | 8.40B |
Revenue Actual | 8.47B | 8.81B | 8.45B | 8.90B |
Quarter | Q3 2021 | Q2 2021 | Q1 2021 | Q4 2020 |
---|---|---|---|---|
EPS Estimate | 1.99 | 1.94 | 1.80 | 2 |
EPS Actual | 2.02 | 2.02 | 1.92 | 2.07 |
Revenue Estimate | 8.65B | 8.63B | 8.09B | 8.40B |
Revenue Actual | 8.47B | 8.81B | 8.45B | 8.90B |
Also consider this overview of Honeywell International analyst ratings:
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