The J. M. Smucker Company manufactures and markets branded food
products worldwide. It operates through four segments: U.S. Retail
Coffee; U.S. Retail Consumer Foods; U.S. Retail Pet Foods; and
International, Foodservice, and Natural Foods. The company provides
various consumer food and beverage products, including coffee, peanut
butter, fruit spreads, shortening and oils, baking mixes and
ready-to-spread frostings, canned milk, flour and baking ingredients,
juices and beverages, frozen sandwiches, toppings, syrups, pickles,
condiments, grain products, and nut mix products; and pet products
comprising dry and wet dog food, dry and wet cat food, dog snacks, and
cat snacks.
Take a look at the 1-year chart of J.M. (NYSE: SJM) below with added notations:
Since the stock’s January low at $95, SJM has been trending higher
and higher. Over the past month or so the stock has hit the same
resistance at $125 (red). Yesterday SJM tried to break out above that
$125 level, but ultimately the stock closed back below it. A close above
the $125 level should lead to another leg higher for stock.
The Tale of the Tape: SJM has a 52-week resistance
at $125. The possible long position on the stock would be on a breakout
above that level with a stop placed under it.
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