UBS lowered their fundamental rating for Honeywell ( HON) to "Sell" from "Buy" Wednesday and lowered their price target from $220 to $193. HON opened with a gap lower and has remained down.
Let's review the charts and indicators. 
In this daily bar chart of HON, below, I can see how prices gapped lower Wednesday and have crept back to the underside of the rising 50-day moving average line. Prices could fail here or continue higher into the close. I do not have a crystal ball on what will happen.
The daily On-Balance-Volume (OBV) line rolled over in December telling me that sellers of HON have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator has been weakening from the middle of November and is close to the zero line.
In this weekly Japanese candlestick chart of HON, below, I see a mixed picture. Prices made twin lows around $170 and rallied into overhead resistance beginning in the $220 area from 2021.
Trading volume has declined in December and the OBV line has turned down. Prices are still above the rising 40-week moving average line but this is a lagging indicator.
The MACD oscillator has been narrowing in recent weeks telling me that the strength of the uptrend has been waning.
In this daily Point and Figure chart of HON, below, I can see a downside price target in the $202 area. A decline to $202 could open the way to further weakness.
In this weekly Point and Figure chart of HON, below, I can see an upside price target in the $321 area but also that a trade at $205.46 could weaken the picture.
Bottom line strategy: Shares of HON could weaken or trade sideways from here - I am not sure. Despite my indecision traders who are long HON from lower levels should consider raising their sell stops.
