Snap-On Inc (SNA)
Snap-on Incorporated is an American designer, manufacturer and marketer of high-end tools and equipment for professional use in the transportation industry including the automotive, heavy duty, equipment, marine, aviation, and railroad industries.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 2.66% per annum.
- SNA price at the close of November 19, 2024 was $354.74 and was higher than the top border of the primary price channel by $147.60 (71.25%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 16.31% per annum.
- SNA price at the close of November 19, 2024 was higher than the top border of the secondary price channel by $18.48 (5.50%).
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of SNA price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: February 19, 2021
End date: November 3, 2022
a = 5.3701
b = -0.0001
s = 0.0490
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0001) – 1
= -2.66%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0490) – 1
= 21.65%
February 19, 2021 calculations
Top border of price channel:
Exp(Y313)
= Exp(a + b × X313 + 2 × s)
= Exp(a + b × 457 + 2 × s)
= Exp(5.3701 + -0.0001 × 457 + 2 × 0.0490)
= Exp(5.4344)
= $229.16
Bottom border of price channel:
Exp(Y313)
= Exp(a + b × X313 – 2 × s)
= Exp(a + b × 457 – 2 × s)
= Exp(5.3701 + -0.0001 × 457 – 2 × 0.0490)
= Exp(5.2384)
= $188.37
November 3, 2022 calculations
Top border of price channel:
Exp(Y744)
= Exp(a + b × X744 + 2 × s)
= Exp(a + b × 1,079 + 2 × s)
= Exp(5.3701 + -0.0001 × 1,079 + 2 × 0.0490)
= Exp(5.3885)
= $218.88
Bottom border of price channel:
Exp(Y744)
= Exp(a + b × X744 – 2 × s)
= Exp(a + b × 1,079 – 2 × s)
= Exp(5.3701 + -0.0001 × 1,079 – 2 × 0.0490)
= Exp(5.1925)
= $179.92
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 2.66% per annum.
- SNA price at the close of November 19, 2024 was $354.74 and was higher than the top border of the primary price channel by $147.60 (71.25%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: September 14, 2021
End date: November 5, 2024
a = 4.9537
b = 0.0004
s = 0.0541
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0004) – 1
= 16.31%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0541) – 1
= 24.16%
September 14, 2021 calculations
Top border of price channel:
Exp(Y456)
= Exp(a + b × X456 + 2 × s)
= Exp(a + b × 664 + 2 × s)
= Exp(4.9537 + 0.0004 × 664 + 2 × 0.0541)
= Exp(5.3368)
= $207.85
Bottom border of price channel:
Exp(Y456)
= Exp(a + b × X456 – 2 × s)
= Exp(a + b × 664 – 2 × s)
= Exp(4.9537 + 0.0004 × 664 – 2 × 0.0541)
= Exp(5.1204)
= $167.41
November 5, 2024 calculations
Top border of price channel:
Exp(Y1,247)
= Exp(a + b × X1,247 + 2 × s)
= Exp(a + b × 1,812 + 2 × s)
= Exp(4.9537 + 0.0004 × 1,812 + 2 × 0.0541)
= Exp(5.8121)
= $334.32
Bottom border of price channel:
Exp(Y1,247)
= Exp(a + b × X1,247 – 2 × s)
= Exp(a + b × 1,812 – 2 × s)
= Exp(4.9537 + 0.0004 × 1,812 – 2 × 0.0541)
= Exp(5.5957)
= $269.27
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 16.31% per annum.
- SNA price at the close of November 19, 2024 was higher than the top border of the secondary price channel by $18.48 (5.50%).