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After Yesterday's Rally of 3.12% Shares Could Potentially Pullback

By Shiri Gupta

Sanderson Farms (NASDAQ:SAFM) traded in a range yesterday that spanned from a low of $111.36 to a high of $115.90. Yesterday, the shares gained 3.1%, which took the trading range above the 3-day high of $111.59 on volume of 257,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Sanderson Farms on March 1st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $95.60. Since that recommendation, shares of Sanderson Farms have risen 16.5%. We continue to monitor SAFM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Sanderson Farms share prices have been bracketed by a low of $64.13 and a high of $115.26 and are now at $115.26, 80% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.5%.

Keywords: rebounders Sanderson Farms

Ticker(s): SAFM