Snap-On Technical Analysis (NYSE:SNA)
Technical analysis is the study of stock price and volume data through technical charts. This analysis does not take into account the intrinsic value of a stock. Just by looking at the Snap-On stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the SNA stock chart which creates a trading signal.
You can view Simple Moving Average (SMA 20 day, 50 day & 100 day), Exponential Moving Average (EMA 20 day, 50 day & 100 day) charts, and Bollinger Bands for Snap-On. The technical analysis form of Snap-On stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Snap-On Moving Average:
Moving averages help predict the price direction of SNA stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. The 20 day moving average of $146.92 is below the last closing price of $149.32 and the 50 day moving average of $149.59 is above the $149.32 price. The 10 and 20 day periods can predict short term moving average trends.
Snap-On Bollinger Bands:
Bollinger bands consist of two price bands above and below a center line for any company stock like Snap-On. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. Currently the stock price of $149.32 is in the lower range of Snap-On bollinger bands.
Snap-On Moving Average Convergence Divergence or MACD:
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Snap-On MACD indicator is above 0 indicating a bullish trend.
Snap-On Relative Strength Index:
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of SNA stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position. .