Can Snap-on Hammer Out a Rally?

We last checked in on Snap-on Inc.  (SNA) in late April after a rally. We concluded, "After the recent rapid run-up for SNA, a period of consolidation would be in order. After some sideways price action, traders could probe the long side of SNA and add on a move above $182. Our price target is $210 and I would risk $167."

With hindsight we would assume traders bought SNA around $170 perhaps in May and got stopped out with a small loss at $167. We never got a rally to $182 to add. Prices have continued to slip lower. Do the indicators give us any promise for a rally now? Let's check in again on this Action Alerts PLUS holding....268 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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