$SNA with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NYSE:SNA after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 76.74%.
SNA trade ideas
SMA- earnings play- a beat with a drop for a pop LONGSMA reported today with about a 2% drop - while traders responded with a 8% drop. Everybody
especially auto mechanics love their stuff. So were they looking for more? It is hard to say.
Idea is on the chart. I am looking for a recovery in a reversion to the mean. It looks like
it's underway. For those familiar with volume profile analysis and trading the best buy short
was upon the drop out of the high volume area ( lower zagged blue line at 9:45 AM EST) and
the best exit was the transient cross over and above the Hull 35 moving average at 12:15.
This would have been a monster trade of about 600% if the strike 280 expiring 2/16 was taken
about 9:45 AM and closed at 12:!5 PM; the price of about $150 for the single contract would
have yielded $1300 and netted $1150 for those 2.5 hours for an hourly rate of over $400.
Enough said about the short, this idea is about the backside. The stock shares trade is what is
is. The options trade in my opinion only is a call contract striking $ 270 just under the 0.5 fib
retracement is currently priced at about $530. If price gets above $270 or even gets over the
$280 fib level line in the next week, the return again would be 300-600%. I am taking this call
options trade, I will enter on a pivot low of the day on the share price chart. I'll set a stop loss
of 20% meaning about $100 is at risk. 3X the premium is about $ 1600 so the reward to risk
is 16. Managing with TradingViews handy alerts on the stock chart for moving average
inflections and cross-overs as well as MACD line and signal intersections should take about
one hour of combined time in a week. I consider the potential gain to be
excellent for the anticipated expense of time.
💵 E a r n i n g s J o u r n a l📶 S T A T I S T I C A L A N A L Y S I S
Current 50-Day Market Trend: short/sellers/negative.
Next Swing: negative swing to support.
Next Wave: buy wave to the deviation.
Next 50-Day Market Trend: long/buyers/positive.
Trade Type: Touch & Go don't wait for a close.
💵 E A R N I N G S A T A G L A N C E
Release Date: 10/19 BMO
Quarter: FQ3'23
_______________________________________________
Revenue Anticipations: positive surprise for Revenues.
Revenue Surprise-Confidence: on a scale of 0-9, #5
Revenue 2-Year Trend: the company trend in Revenues is positive.
_______________________________________________
EPS Anticipations: positive surprise for EPS.
EPS Surprise-Confidence: on a scale of 0-9, #9
EPS 2-Year Trend: the company trend in EPS is positive.
_______________________________________________
📝 S Y N O P S I S
"I expect the market will buy the +surprise if the earnings report hits the Wall Street consensus, or sell the -surprise if the earnings report misses the Wall Street consensus."
🔎 R E S E A R C H D E P T H
Technical Analysis: daily chart.
Fundamental Analysis: EPS & Revenue data.
Press/News: none.
Social Media: none.
$SNA with a Bullish outlook following its earnings #Stocks The PEAD projected a bullish outlook for $SNA after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 73.33%.
Snap-On Weekly Buy SetupThis is the strongest trade of the 3. The target is 2R.
Since we're extending the 52W high there is no resistance to speak of. I'll likely take 2R if I can get it. You could also manage it out and try for more.
Like the others, I'll look for an add on the Daily chart.
SNA - Long Term RetestA bearish outcome on the 4D timeframe for SNA
After retest overall dominant bullish trend resumes
Looking for an inflation hedge? Consider Snap-On - US toolmakerBeautiful chart here in a sea of ugliness in the markets.
Generates strong cash flow and reasonable dividend yield of 2.6%. Demonstrating strong profit margins of 20.1% in the latest quarter, their second highest on record.
This is a Warren Buffett style company offering safety and modest growth potential. Undervalued here in my opinion.
SNA is a stock that lacks attention but has growth potential.That's a good trading opportunity if the price retraces to the $170-190 price level.
SNA: Ascending TriangleAscending Triangle, confirmed
Pros:
Descending Volume
PPS above 50MA and 200MA
R/R ratio above 20
RS ascending and above 0
250RSI above 50
Cons:
200MA Flat/descending
ATR flat, less volatile
Price targets:
PT1=170,06
PT2=178,13
PT3=183,67
PT4=232,07
No resistance above this point
SNAP ON INC DAILY ANALYSISHi friends
The daily chart of this market shows that it will experience a downtrend in the next few days but at the same time it should not enter a seller if it does not break the level of 124.65
at the same time it is necessary to be vigilant of the change of sense
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SNA - CONNORS RSI(2)NYSE:SNA
RSI(2) MENUNJUKKAN MENGHAMPIRI PARAS 10 (OVERSOLD).
PELUANG UTK "LONG", SESUAI DIMASUKKAN DALAM WATCHLIST.
Hoping to get the lowest point for a long pozition.Minimum stop loss, looking to a breakout. If this doesn't happends I can still close in profit.
SNA: Oversold on relatively low volumeLooking to enter a long position on SNA with a fairly wide stop. Price decreased after earnings but the long spinning top/long legged doji candle indicates weakness in selling and a possible reversal. Relatively low volume compared to previous earnings as shown on chart. You could set your stop a little tighter around the $149 resistance level to protect against the downside, but as is, a 2:1 risk:reward trade.
Golden Crosses Everywhere. I bought them from SNAPON1. Golden crosses on multiple time frames
2. Bouncing off the 200 MA on multiple time frames
3. If we don't get rejected at the 0.382 Fib, I may finally get to use my rocket ship built using SNAPON tools
$SNA Breakout Setup ---8/10 Rating----Trade idea is discussed on the chart, including buy conditions.
-Stick to the rules of the trade. Do not deviate from the plan without adequate experience at TA. If rejected this likely will retest previous lows, Forming a double bottom or moving lower.
-Orange lines are points of interest with the scalping crowd.
-WATCH FOR VOLUME
Weekly chart would also be a good thing to look at here.
If you agree with the idea and like the TA please leave a like :)
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Comments are always welcomed and appreciated.
$SNA on watch -ER tomorrow-Bullish divergence seen on the chart.
They trade at a great forward PEG and PE ratio
ER tomorrow.
