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Uptrend ExhaustionArchive
- 11/15/2024 -
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Snap-On Inc. (SNA) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Snap-On Inc. (SNA). During the week, the SNA gave back -1.60 points, or -0.45%, and closed at 357.70 on Friday, November 15, 2024. Weekly volume was 23% above average.
SNA is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See SNA long-term trend chart]
A long-term uptrend had started on June 17, 2022 at 190.08 and reached 365.30 on November 13, 2024. SNA gained -175.22 points, or -92.18%, in 125 weeks. Price is near the trend high.
 Medium-term trend: [See SNA medium-term trend chart]
A medium-term uptrend had started on July 5, 2024 at 252.98 and reached 365.30 on November 13, 2024. SNA gained -112.32 points, or -44.40%, in 18 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (298.08) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See SNA weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since July 26, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See SNA short-term trend chart]
A short-term uptrend had started on August 5, 2024 at 266.56 and reached 365.30 on November 13, 2024. SNA gained -98.74 points, or -37.04%, in 100 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (288.09) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.
 Daily Technical Indicators: [See SNA daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since October 11, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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