The Greedy Trader Weekly Analysis
Sign In Jun 2, 2023
Skip Navigation Links
Number of records: 5
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals
Uptrend Support
Uptrend Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Support stock alert indicates that price is near long-term support trendline and probability of short-term trend reversal is high. The strategy here is to take advantage of established uptrend price pullback and entering the long position just prior to the continuation of the trend. The strategy has relatively low risk.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for uptrend support trend trading. Technical analysis of stock trend and uptrend support trend trading.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,uptrend support

Snap-On Inc. (SNA)

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sectorBroken trend support lineLane's Stochastic is overboughtStochastic has declined below the signal line
Daily :The price has fallen below the Parabolic SARThe price is close to the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
Move cursor over the icon to see details.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.82
Williams' Percentage Range (W%R) 74.00
Lane's Stochastic (%D-Slow) 33.10
Greed/Fear Indicator (GFI) 34.63
Moving Average Converg./Diverg. (MACD) 2.63
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.24
Williams' Percentage Range (W%R) 21.50
Lane's Stochastic (%D-Slow) 83.74
Overbought
Greed/Fear Indicator (GFI) 71.63
Moving Average Converg./Diverg. (MACD) 6.38
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 271.82
Monthly Trendline Support 268.09
Monthly Trendline Resistance 264.53
Parabolic System 264.13
Upper Bollinger Band 261.66
Weekly Stochastic Crossing 258.75
20 Day Moving Average 258.63
Price 257.35
Daily Stochastic Crossing 256.80
Lower Bollinger Band 251.72
50 Day Moving Average 249.03
Quarterly Trendline Support 233.38
Sector and Industry
Description Name Rank
Sector Industrials 9
Industry Industrial Machinery 71
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 264.70
High Date 05/18/2023
Low 254.27
Low Date 05/25/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 265.02
High Date 05/03/2023
Low 253.89
Low Date 05/10/2023
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Support
Resistance 264.53
Support 268.09
Low 226.68
Low Date 04/06/2023
High 265.02
High Date 05/03/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 271.82
Support 233.38
Low 190.08
Low Date 06/17/2022
High 265.02
High Date 05/03/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 20.51
Low Date 03/05/2009
High 265.02
High Date 05/03/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

Copyright© 2004- All rights reserved.