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Shares of Sanderson Farms Fall to a New 52-Week Low

By David Diaz

Shares of Sanderson Farms (NASDAQ:SAFM) traded today at $101.20, breaking its 52-week low. So far today approximately 366,000 shares have been exchanged, as compared to an average 30-day volume of 352,000 shares.

In the past 52 weeks, Sanderson Farms share prices have been bracketed by a current low of $101.20 and a high of $176.43 and are now at $105.89. The 200-day and 50-day moving averages have moved 0.3% lower and 0.86% lower over the past week, respectively.

Sanderson Farms (NASDAQ:SAFM) has potential upside of 13.2% based on a current price of $105.89 and analysts' consensus price target of $119.90. The stock should find initial resistance at its 50-day moving average (MA) of $115.32 and further resistance at its 200-day MA of $137.31.

Sanderson Farms, Inc. produces, processes, markets, and distributes fresh and frozen chicken products. The Company also processes, markets, and distributes processed and prepared food items. Sanderson Farms sells its chicken to retailers, distributors, and fast food operators in the southeastern, southwestern, and western United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Sanderson Farms on December 14th, 2017 by issuing a Downtrend alert when the shares were trading at $152.55. Since that call, shares of Sanderson Farms have fallen 29.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows Sanderson Farms

Ticker(s): SAFM