New York, May 31st (TradersHuddle.com) - Shares of Snap-on, Inc. (NYSE:SNA) ended the trading session close to calculated support at $57.90, a level that will raise the attention of traders looking for an entry point.

Snap-on's stock range is defined by its calculated support defined at $57.90 and by the resistance level at $61.62. This range could be used as a reference by traders planning their next move. The area where buyer interest might materialize is defined as calculated support. Stocks trading near support might see upside if it can successfully hold the technical level. However, this area if breached will signal participants that the stock failed to entice buyers to step in to support it.

Traders wanting to establish a position should pay close attention to Snap-on's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $61.62 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.

Shares of Snap-on, Inc. closed at $60.25 in the prior trading session.

Snap-on, Inc. (NYSE:SNA) develops, manufactures, and distributes tool and equipment solutions worldwide. The Company's products include hand and power tools, diagnostics and shop equipment, tool storage products, diagnostics software, and other solutions for the automotive service industry. Customers include professional service technicians and motor service shop owners, among others.