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Uptrend SupportArchive
- 7/19/2024 -
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Snap-On Inc. (SNA) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the Snap-On Inc. (SNA). During the week, the SNA climbed 1.27 points, or 0.47%, and closed at 270.90 on Friday, July 19, 2024. Weekly volume was 76% above average.
 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 uptrend support line (282.00) 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 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 252.98 on July 5, 2024. SNA lost 45.51 points, or 15.25%, in 14 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (251.40) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See SNA weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. 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 July 5, 2024 at 252.98 and reached 282.00 on July 17, 2024. SNA gained -29.02 points, or -11.47%, in 12 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 266.23 and resistance is at 288.84. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See SNA daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since July 10, 2024. This is an indication that the short-term trend is up.
Price is close to the 50 Day Moving Average. 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.
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