In examining America’s tool companies, we reviewed Grainger and Snap-On. Overall health of the technical trend is a stall warning. Both companies mirror similar technical patterns such as a BARR formation blended with a descending contracting wedge. Ultimately the time for the market to clear could be pending.
W.W. Grainger, Inc. distributes maintenance, repair, and operating (MRO) supplies; and other related products and services that are used by businesses and institutions.The company offers material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, building and home inspection supplies, vehicle and fleet components, and various other products
What do the analyst think ?
GWW Monthly basis is in overall resistance. Head and shoulders forming construction of right shoulder. BARR formation blended with descending contracting wedge rejecting supply line of wedge. <50SMA kiss/rejection has only closed below in the dot com bubble and 2008.
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments. It offers hand tools, such as wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools comprising impact wrenches, ratchets, screwdrivers, drills, sanders, grinders, and related products; and tool storage products comprising tool chests, roll cabinets, and other products.
What do analyst think?
SNA Monthly basis is in overall resistance. Potential diamond in construction. Similar to GWW linear supply line forming otherwise known as a BARR blended with a descending contracting wedge. SNA is at a steep premium verse the 50sma.