New York, October 9th (TradersHuddle.com) - Unusual high volume detected on shares of J. M. Smucker Company (NYSE:SJM) early in the trading session. The pace in volume of J. M. Smucker points to a break above average, with sellers in control, as the stock is 0.84% lower.
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 has already traded 0.833 times its 3-month average volume and has calculated support and resistance at $74.32 and $84.78 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.
The overall market index S&P 500 is trading lower by -0.78% from its previous trading close, which means that J. M. Smucker stock is underperforming the overall market.
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