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Sanderson Farms Set to Possibly Pullback After Yesterday's Rally of 1.95%

By Amy Schwartz

Sanderson Farms (NASDAQ:SAFM) traded in a range yesterday that spanned from a low of $143.31 to a high of $147.24. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $146.57 on volume of 137,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Sanderson Farms share prices have moved between a 52-week high of $158.32 and a 52-week low of $93.98 and are now trading 55% above that low price at $145.42 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.5%.

SmarTrend is tracking the current trend status for Sanderson Farms and will alert subscribers who have SAFM in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Sanderson Farms

Ticker(s): SAFM