Honeywell International Inc. (HON) is currently trading above the 1.236 Support Arc on its 4-hour chart, according to Arc Cycle Analysis. The price is expected to decline and retest this key support level at 213.5. If the market confirms a breakdown of the 1.236 Arc, the decline could extend further toward 198.50.
The primary scenario for HON is a bearish outlook, with the decline to 213.5 being the preferred target. This analysis is based on the current Arc Cycle, which is approaching a retest of the support arc. A sustained 4-hour close above 223.5 would invalidate this bearish scenario.
The market bias remains bearish, with the current arc level positioned above the 1.236 Support Arc. The extended target, in case of a confirmed breakdown, is set at 198.50. Investors should monitor the price action around the 213.5 level for potential changes in market direction.