A Major Buy Chart

Honeywell International Inc. (HON) is enjoying a 1% shot in the arm Friday, boosted by second-quarter earnings that topped analysts’ estimates.

While Friday’s post-earnings pop is modest, it’s triggering a buy signal that could lead to much more upside as the summer comes to a close. To figure out Honeywell’s price trajectory here — and when to buy shares — we’re turning to the charts for a technical look.

First though, a closer look at Honeywell’s earnings.

Honeywell earned a second-quarter profit of $1.80 per share, adjusted for one-time charges. That comes in slightly above the $1.78 consensus estimate from Wall Street. Likewise, the firm upped the low-end of its 2017 earnings forecast, estimating earnings of $7.00 to $7.10 a share on revenues between $39.3 billion and $40 billion.

The favorable second-quarter stats are well-timed for Honeywell — activist investor Dan Loeb is campaigning to split off Honeywell’s aerospace business and positive numbers from the firm might give management more leeway with shareholders this year.