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Downtrend Broken Resist.Archive - 4/26/2024 - Sign In to see current Signals. |
Snap-On Inc. (SNA) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a first positive week after 3 consecutive negative weeks for the Snap-On Inc. (SNA). During the week, the SNA climbed 1.90 points, or 0.71%, and closed at 270.70 on Friday, April 26, 2024. Weekly volume was 14% 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 (271.99) 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 chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (272.87). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a medium-term trend. Weekly Technical Indicators: [See SNA weekly technical indicators chart] Weekly technical indicators are neutral. 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 downtrend had started on April 24, 2024 at 275.14 and reached 269.81 on April 25, 2024. SNA lost 5.33 points, or 1.94%, in 1 days. The price is now at the 16.70% retracement level. Daily Technical Indicators: [See SNA daily technical indicators chart] Daily technical indicators are neutral. During the last week, daily 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 daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down. During the last week, the 20 Day Moving Average 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.
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