SNA closes higher for the 2nd day in a row
Snap-On Incorporated (SNA) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (SNA as at May 17, 2018):
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.
Prices are trading close to a key support level at 150.56.
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.