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Uptrend SupportArchive
- 4/19/2024 -
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J.M. Smucker Co. (SJM) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the J.M. Smucker Co. (SJM). During the week, the SJM gained 5.15 points, or 4.70%, and closed at 114.76 on Friday, April 19, 2024. It was the best weekly gain since December 8, 2023. Weekly volume was 13% 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 93.77 and resistance is at 175.25. 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. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See SJM weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
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, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See SJM short-term trend chart]
A short-term downtrend had started on March 20, 2024 at 127.59 and reached 109.38 on April 15, 2024. SJM lost 18.21 points, or 14.27%, in 26 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 105.72 and resistance is at 126.05. 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 short-term trend.
Daily Technical Indicators: [See SJM daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since April 3, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. 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.
The distance between the Bollinger Bands is 112.09% higher then one year average. It indicates the period of high volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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