SNA climbs to highest close since February 26th
Snap-On Inc. (SNA) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
SNA finished Thursday at 159.48 gaining $0.99 (0.62%) on high volume. Today's closing price of 159.48 marks the highest close since February 26th. Trading up to $1.38 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Wednesday's high at 159.45, the stock confirms its breakout through the previous session's high having traded $1.36 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (SNA as at Jun 14, 2018):
Thursday's trading range was $2.79 (1.75%), that's above last trading month's daily average range of $2.28. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
After trading as low as 158.02 during the day, Snap-On Inc. bounced off the key support level at 158.63. The failure to close below the support might increase that levels importance as support going forward. After having been unable to move lower than 157.86 in the prior session, the market found buyers again around the same price level today at 158.02.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.