Possible Trend Reversal, JM Smucker Down on Heavy Volume (SJM)
Shares of JM Smucker are trading down 8.2% to $143.39 today on above average volume. Approximately 1.8 million shares have changed hands today vs. average 30-day volume of 846,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.
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 23.7%. We continue to monitor SJM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, JM Smucker has traded in a range of $104.30 to $157.31 and is now at $144.24, 38% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.
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