Monday, July 10, 2017 12:13:32 PM
Since early June most of the leading food processing stocks have fallen off a cliff. Traders should take note that Smucker JM Co (NYSE:SJM) topped out long before that, peaking in August 2016 at $157.30 a share. Since that pivot top in the stock the shares have tumbled lower by $42.00. Today, SJM stock is trading at $114.95 a share. Many traders may think the stock is now on sale, but that is not the case just yet. There is still lower prices ahead before this stock reaches its institutional buy point.
Traders and investors should watch the $109.00 level for major chart support. This is an area where the stock price should be defended by the institutional traders. In fact, this was a major chart support level in July 2015 and it should be supported again when retested. This area is a support level where I will be looking to buy SJM stock.
Nicholas Santiago
InTHeMoneyStocks
Recent SJM News
- US Index Futures Mixed; Oil Prices Rise • IH Market News • 06/06/2024 11:29:43 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/06/2024 11:06:15 AM
- The J.M. Smucker Co. Announces Fiscal Year 2024 Fourth Quarter Results • PR Newswire (US) • 06/06/2024 11:00:00 AM
- The J.M. Smucker Co. to Report Fourth Quarter Earnings • PR Newswire (US) • 05/16/2024 12:00:00 PM
- The J.M. Smucker Co. Declares Dividend and Announces Annual Shareholder Meeting Date • PR Newswire (US) • 04/18/2024 08:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:43:32 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/04/2024 10:26:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/29/2024 09:31:04 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/27/2024 12:18:35 PM
- The J.M. Smucker Co. Announces Fiscal 2024 Third Quarter Results • PR Newswire (US) • 02/27/2024 12:00:00 PM
- The Hostess® Brand Delivers New Mashup of Fan-Favorite Breakfast Snacks with Launch of HoneyBun Donettes® • PR Newswire (US) • 02/15/2024 04:06:00 PM
- The J.M. Smucker Co. to Present at the 2024 Consumer Analyst Group of New York (CAGNY) Conference and Sets Date to Report Third Quarter Earnings • PR Newswire (US) • 02/06/2024 01:00:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/29/2024 06:19:07 PM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 01/24/2024 12:01:01 PM
- The J.M. Smucker Co. Declares Dividend • PR Newswire (US) • 01/19/2024 09:30:00 PM
- Wall Street Highlights: Macy’s Announces Job Cuts, iRobot Shares Plummet Due to Planned Acquisition Block, and More • IH Market News • 01/19/2024 11:09:24 AM
- The Hostess® Brand Sweetens the Season of Love with Heartfelt Snacks for Your Valentine • PR Newswire (US) • 01/17/2024 02:08:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 09:48:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 09:45:21 PM
- La société J.M. Smucker Co. complète la cession de ses marques de condiments fermentés au Canada à TreeHouse Foods • PR Newswire (Canada) • 01/02/2024 09:15:00 PM
- The J.M. Smucker Co. Completes the Divestiture of Fermented Condiment Brands in Canada to TreeHouse Foods • PR Newswire (US) • 01/02/2024 09:15:00 PM
- The J.M. Smucker Co. Completes the Divestiture of Fermented Condiment Brands in Canada to TreeHouse Foods • PR Newswire (Canada) • 01/02/2024 09:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/22/2023 10:02:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/20/2023 01:30:22 PM
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