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Watch for Snap-On Inc to Potentially Pullback After Gaining 2.16% Yesterday

By James Quinn

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.

In the past 52 weeks, Snap-On Inc share prices have been bracketed by a low of $145.17 and a high of $181.73 and are now at $158.73, 9% above that low price. 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 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