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Uptrend Broken SupportArchive
- 4/26/2024 -
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J.M. Smucker Co. (SJM) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :  
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| | It was the negative week for the J.M. Smucker Co. (SJM). During the week, the SJM dropped -1.16 points, or -1.01%, and closed at 113.60 on Friday, April 26, 2024. Weekly volume was 11% above average.
 Long-term trend: [See SJM long-term trend chart]
A long-term uptrend had started on December 27, 2018 at 91.32 and reached 163.07 on January 6, 2023. SJM gained -71.75 points, or -78.57%, in 210 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 93.78 and resistance is at 175.44. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See SJM medium-term trend chart]
A medium-term downtrend had started on February 2, 2024 at 134.62 and reached 109.38 on April 15, 2024. SJM lost 25.24 points, or 18.75%, in 10 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 106.66 and resistance is at 121.88. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See SJM weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 5, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See SJM short-term trend chart]
A short-term uptrend had started on April 15, 2024 at 109.38 and reached 119.90 on April 25, 2024. SJM gained -10.52 points, or -9.62%, in 10 days. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See SJM daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
A Parabolic SAR (stop and reversal) indicator (113.1) comes close to the price (113.60). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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