Photographer: Michael Nagle/Bloomberg
In an early April posting, Snap On Incorporated was recommended as a buy. One of the key determinants was the weekly price cycle which has been accurate on all 11 buys and sell signals over the last year. The cycle points to a weak May-June. This will also likely be a weak period for the S&P. This stock is likely to give back profits to the the $230-$240 area.
Snap On Weekly Cycle
This sell signal points to two months down for SNA.
Snap On Daily Graph
The stock has had a good run and is currently overbought and ready for a correction.
Source: https://www.forbes.com/sites/greatspeculations/2023/04/27/take-profits-sell-snap-on/