New Directional Call Plays – SNA

Snap On Inc. – SNA – close: 70.02 change: +0.11

Stop Loss: 69.65
Target(s): 74.90
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
SNA has managed to hold on to recent gains. The stock is hovering just under its all-time highs set in late July around the $70.85 level. If SNA can breakout shares could easily make a run towards $75 or higher. The P&F chart is bullish and forecasting a $79 target.

I am suggesting we open small bullish positions if SNA can trade at $71.00. We’ll use a stop under today’s low. Our target is $74.90. More aggressive traders could aim higher.

Trigger @ $71.00

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— The Option Specialist

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About the Author: The Option Specialist