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SmarTrend Watching for Potential Rebound in Shares of Snap-On Inc After 1.02% Loss

By James Quinn

Snap-On Inc (NYSE:SNA) traded in a range yesterday that spanned from a low of $144.18 to a high of $145.98. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $144.46 on volume of 255,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Snap-On Inc share prices have moved between a 52-week high of $181.73 and a 52-week low of $140.83 and are now trading 3% above that low price at $144.57 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

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 10.1%. 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