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SNA closes higher for the 2nd day in a row


Technical Analysis Report for SNA - May 17, 2018 [< 1 min read]
Highlights
SNA closes higher for the 2nd day in a row
SNA pushes through previous session high
SNA rises to highest close since April 19th
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, SNA finished Thursday at 151.83 gaining $1.07 (0.71%). Today's closing price of 151.83 marks the highest close since April 19th. Closing above Wednesday's high at 151.60, the stock confirms its breakout through the prior session's high having traded $1.09 above it intraday.

Daily chart for SNA
Volatility

Thursday's trading range was $1.96 (1.3%), that's below last trading month's daily average range of $2.72. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Support/Resistance

Prices are trading close to a key support level at 150.56.

Trend

Although the share is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Closed above last periods high TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

SNA pushes through key resistance level

May 21, 2018
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