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JM Smucker Looks to Continue to Trade Above its Annual-High Share Price Today

By David Diaz

JM Smucker (NYSE:SJM) traded today at a new 52-week high of $154.94. This new high was reached on below average trading volume as 94,000 shares traded hands, while the average 30-day volume is approximately 846,000 shares.

The J. M. Smucker Company manufactures and markets food products on a worldwide basis. The Company's principal products include peanut butter, shortening and oils, fruit spreads, canned milk, baking mixes and ready-to-spread frostings, flour and baking ingredients, juices and beverages, frozen sandwiches, dessert toppings, syrups, pickles and condiments, and potato side dishes.

JM Smucker (NYSE:SJM) is currently priced 16.6% above its average consensus analyst price target of $129.10. JM Smucker shares have support at the 50-day moving average (MA) of $128.18 and additional support at the 200-day MA of $120.65.

Over the past year, JM Smucker has traded in a range of $104.30 to $154.94 and is now at $154.75, 48% above that low. The 200-day and 50-day moving averages have moved 0.33% higher and 0.08% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of JM Smucker on January 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $126.26. Since that recommendation, shares of JM Smucker have risen 22.5%. We continue to monitor SJM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows jm smucker

Ticker(s): SJM