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AI SNA Forecast

Price Forecast:

Bearish <-> Bullish

Bullish Case: Snap-on's historical growth trends are supported by positive sector forecasts, alongside increased institutional interest. This reflects strong potential for the price to rise, especially with upcoming earnings possibly exceeding market expectations.

Bearish Case: Potential macroeconomic headwinds and low trading volume indicate a lack of conviction in Snap-on's price movements. High implied volatility and significant put activity suggest heightened bearish sentiment and vulnerability to price corrections.

Potential Outcomes:

1. Price rises by 10% due to strong earnings (40%).

2. Price stagnates within current range due to low activity (40%).

3. Decline by 10% following increased market uncertainty (20%).

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September 15, 2024

Snap-on Forecast

SNA Snap-on

Price Forecast
Future Uncertainty

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Correlated Assets

Assets that tend to move strongly with SNA

ITW Illinois Tool Works (0.84)

WY Weyerhaeuser (0.78)

SWK Stanley Black & Decker (0.77)

ARE Alexandria Real Estate (0.77)

THO Thor Industries (0.75)

Uncorrelated Assets

Assets with little price relationship to SNA

FRO Frontline (-0.0)

JKS JinkoSolar (0.0)

EH EHang Holdings Ltd - (0.0)

ALB Albemarle (0.0)

GSL Global Ship Lease (-0.0)

Anticorrelated Assets

Assets that tend to move strongly against SNA

MCHI BTC iShares MSCI China (-0.53)

TMV Direxion Daily 20+ Year Treasury Bear 3X Shares (-0.53)

TBT PowerShares UltraShort Lehman 20+ Yea (-0.53)

CRK Comstock Resources (-0.62)

UUP Invesco DB US Dollar Index Bullish (-0.68)

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