Select Page

Snap-On is in full breakout mode today.  Shares are up 5% as the stock begins to put some distance on heavy supply near the $156.00 area.  This key zone, which includes June, August and September highs, should now be considered a solid support zone. 

There is ample fuel in the tank for a move higher.  SNP sports a short interest ratio of 14.  The stock is also far from overbought despite trading at new four month highs.  We expect SNP to retest the 2020 highs as a fresh rally leg develops.  2019 high is $174.00.  All time high is $189.50 set back in September 2018. 

No position.