SJM closes within prior day's range after lackluster session


Smucker (J.M.) (SJM) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
SJM finds buyers again around 110.75
SJM closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

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 chart for SJM
Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Smucker (J.M.)
Condition Forecast Direction Win Avg Worst Best Events
Strong Up Move TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
More market conditions identified for TQ Pro members...
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