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SmarTrend Watching for Potential Pullback in Shares of Snap-On Inc After 2.16% Gain

By Nick Russo

Snap-On Inc (NYSE:SNA) traded in a range yesterday that spanned from a low of $156.00 to a high of $159.30. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $156.26 on volume of 442,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Snap-On Inc has traded in a range of $145.17 to $181.73 and is now at $158.73, 9% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Snap-On Inc on May 24th, 2017 by issuing a Downtrend alert when the shares were trading at $162.46. Since that call, shares of Snap-On Inc have fallen 4.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders snap-on inc

Ticker(s): SNA