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SNAP-ON INCSNAP-ON INCSNAP-ON INC

SNAP-ON INC

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1SNA 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.
NYSE:SNALong
by AwesomeAvani
💵  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.
NYSE:SNA
by UnknownUnicorn28743597
$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 :) Follow for more Comments are always welcomed and appreciated.
NYSE:SNALong
by gumbtg