Honeywell Flour Mills (NGX:HONYFLOUR) Technical OutlookHoneywell Flour Mills PlcNSENG:HONYFLOURForexClinikHoneywell Flour Mills (NGX: HONYFLOUR) Technical Outlook Honeywell’s stock on the NGX recently staged a strong rally after breaking through its long-standing resistance at ₦5, reaching an all-time high (ATH) of approximately ₦30. However, the stock was unable to sustain momentum at that level and has since pulled back by about 25% from its peak, currently consolidating around a key support zone at ₦21.30. From a technical perspective, there appears to be the formation of a head and shoulders pattern, though not immediately obvious. If the current support level fails to hold, the price could potentially retrace towards the ₦18.50 zone (a minor support level) or possibly lower, as suggested by the chart structure. For long-term positioning, I would be more comfortable initiating entries around the ₦15.40 zone, where the stock would be trading at a significant discount. This level offers a more attractive risk-reward ratio for accumulation. Follow me here on TradingView for more educative forecast Please, like, share, comment your thoughts