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Archive
- 4/19/2024 -
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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 dropped -20.78 points, or -7.18%, and closed at 268.80 on Friday, April 19, 2024. It was the worst weekly loss since February 9, 2024. Weekly volume was 96% above average.
SNA is a member of Industrials Sector. Industrials is the second 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 298.49 on March 28, 2024. SNA gained -108.41 points, or -57.03%, in 92 weeks. The chart has formed a Ascending Triangle chart pattern. The price is near the trend support (271.11) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.
 Medium-term trend: [See SNA medium-term trend chart]
A medium-term downtrend had started on March 28, 2024 at 298.49 and reached 261.33 on April 18, 2024. SNA lost 37.16 points, or 12.45%, in 3 weeks. The price is now at the 20.10% retracement level.
 Weekly Technical Indicators: [See SNA weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. 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 and Williams' Percentage Range help.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
Short-term trend: [See SNA short-term trend chart]
A short-term downtrend had started on April 4, 2024 at 296.68 and reached 261.33 on April 18, 2024. SNA lost 35.35 points, or 11.92%, in 14 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See SNA daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range.
The daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
 Candlestick pattern: [See SNA candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.
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