SJM closes within prior day's range after lackluster session
Smucker (J.M.) (SJM) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
SJM ended Thursday at 111.32 losing $0.72 (-0.64%). Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.
Daily Candlestick Chart (SJM as at May 17, 2018):
Thursday's trading range was $1.42 (1.27%), that's far below last trading month's daily average range of $2.31. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.
After moving higher in the prior session, Smucker (J. M.) closed lower but above the previous day's open today, forming a bearish Harami Candle.
Prices are trading close to a key support level at 110.42. After having been unable to move lower than 110.61 in the prior session, the share found buyers again around the same price level today at 110.75.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.