$HON - a scary case of head & shoulder + gap fill?

Honeywell is in H&S formation. The price bounced from the neck line around $195. Not all H&S break down below the neck line. But one thing that is worrisome is a huge gap right below the neck line that could get filled.
It resisted filling this time and will probably head to the shoulder line area of $217 to $220 area. ER is in about 3 days so it could either send the stock past $220 or break below $195 and fill the gap at $185.
There is no way of knowing. The stop loss can be set at $194. Trader would have to be nimble and raise stop loss as the price climbs as it can break down rather quick.
Target 1 - $217
Target 2 - $220
Risk - breaking below $195 and fill the gap at $185.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.