Smithfield Foods - 52 Week High

Published on Thursday, 08 December 2011 11:34 Written by Christopher Lynn

New York, December 8th (TradersHuddle.com) - Shares of Smithfield Foods, Inc. (NYSE:SFD) booked a new 52 week high today by trading above $25.1, traders are definitely monitoring Smithfield Foods' price action to see if this move attracts further buying into the stock.

Smithfield Foods, Inc. (NYSE:SFD) engages in the production and marketing of fresh meat and packaged meat products. The company processes pork and produces hogs through its meat processing and hog production groups. Smithfield also produces and markets a range of branded food products such as frozen barbecues and chilies, peanuts, and pork products.

Smithfield Foods is currently trading -2.25% versus its previous trading session close, and it has calculated support and resistance at $22.25 and $25.10 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading lower by -1.12% from its previous trading close, which means that Smithfield Foods stock is underperforming the overall market.