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Thread: SJM - The J. M. Smucker Co

  1. Default SJM - The J. M. Smucker Co

    SJM is a $7.1 billion consumer goods company that engages in the manufacture and marketing of branded food products in the United States, Europe and Canada.

  2. Default

    SJM was downgraded, resulting in a 2.8% drop on volume that was 50% heavier than normal. That's the bad news. The good news is that SJM has significant gap support from $59.40 (top of gap support) to $57.75 (bottom of gap support).

  3. #3

    Default

    That could come into play on Tuesday. Conservative traders may want to see if SJM falls back into this gap support zone and reverses before considering a position on the long side.

  4. Default

    We would expect this area to hold so dual entry at the top and bottom of the gap support zone would make sense with a tight stop near the $57.00 level to protect against much downside. Ultimately, recovery back to the $63.50 level would be our target.

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