After Yesterday's Rally of 1.02% Shares Could Potentially Pullback
JM Smucker (NYSE:SJM) traded in a range yesterday that spanned from a low of $133.11 to a high of $134.89. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $133.90 on volume of 268,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, JM Smucker share prices have been bracketed by a low of $104.30 and a high of $157.31 and are now at $134.50, 29% 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.
SmarTrend recommended that its subscribers protect gains by selling shares of JM Smucker on August 23rd, 2016 by issuing a Downtrend alert when the shares were trading at $146.18. Since that call, shares of JM Smucker have fallen 9.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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