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Snap-On Inc. (SNA) |
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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 -3.51 points, or -1.35%, and closed at 257.35 on Friday, May 26, 2023. Weekly volume was -21% below 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 265.02 on May 3, 2023. SNA gained -74.94 points, or -39.43%, in 45 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 233.38 and resistance is at 271.82. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
 Medium-term trend: [See SNA medium-term trend chart]
A medium-term uptrend had started on April 6, 2023 at 226.68 and reached 265.02 on May 3, 2023. SNA gained -38.34 points, or -16.91%, in 3 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (268.09) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.
 Weekly Technical Indicators: [See SNA weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since April 28, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 May 3, 2023 at 265.02 and reached 253.89 on May 10, 2023. SNA lost 11.13 points, or 4.20%, in 7 days. The price is now at the 31.09% retracement level.
 Daily Technical Indicators: [See SNA daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since May 9, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (3.87%) is close to one year low (3.71%). It is 63.39% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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