Snap-on Inc (SNA): Price Now Near $218.24; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for SNA

At the time of this writing, SNA (Get Ratings)’s price is down $-2.22 (-1%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as SNA has now gone down 24 of the past 30 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Out of Construction Materials stocks, SNA ranks 54th in regards to today’s price percentage change.

SNA’s Technical Outlook on the Daily Chart

Currently, SNA’s price is down $-5.42 (-2.42%) from the day prior. SNA has seen its price go down 5 out of the past 5 days, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The chart below shows SNA’s price action over the past 90 days.

SNA

For SNA News Traders

News traders keeping an eye on SNA may find value in this recent story:

Look to Go Long Snap on a Breakout Over This Key Level

During Tuesday’s Lightning Round segment of Mad Money, one caller asked Jim Cramer about Snap : “They’ve gotten it together and I think they’re finally a winner,” he replied. Let’s check out the charts of SNAP.

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