JM Smucker: The Winning Streak Continues (SJM)
Shares of JM Smucker (NYSE:SJM) traded at a new 52-week high today of $146.98. This new high was reached on below average trading volume as 95,000 shares traded hands, while the average 30-day volume is approximately 846,000 shares.
JM Smucker (NYSE:SJM) defies analysts with a current price ($146.32) 11.8% above its average consensus price target of $129.10. The stock should discover initial support at its 50-day moving average (MA) of $128.18 and subsequent support at its 200-day MA of $120.65.
In the past 52 weeks, JM Smucker share prices have been bracketed by a low of $104.30 and a high of $146.98 and are now at $146.32, 40% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.
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.
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 15.6%. 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