J. M. Smucker @ Year Highs

Published on Thursday, 04 October 2012 12:34 Written by TradersHuddle Wire

New York, October 4th (TradersHuddle.com) - Shares of J. M. Smucker Company (NYSE:SJM) booked a new 52 week high today by trading above $87.73, traders are definitely monitoring J. M. Smucker's price action to see if this move attracts further buying into the stock.

The J. M. Smucker Company (NYSE:SJM) manufactures and markets food products. Its principal products include peanut butter, shortening and oils, fruit spreads, canned milk, baking mixes and ready-to-spread frostings, flour and baking ingredients, juices and beverages, frozen sandwiches, dessert toppings, syrups, pickles and condiments, and potato side dishes.

J. M. Smucker is currently trading -0.02% versus its previous trading session close, and it has calculated support and resistance at $74.32 and $84.78 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 higher by 0.69% from its previous trading close, which means that J. M. Smucker stock is underperforming the overall market.