JM Smucker Co. (SJM) Resuming March Advance

Conclusion, Investment Implications, Strategy

The J. M. Smucker Company (SJM) appears to be resuming its March major uptrend amid coincident quarterly relative outperformance versus the benchmark S&P 500 (SPX). A sustained rise above the $132.34 area would help confirm this and would target an additional 15% rise to $160.00 per share. This is an Asbury Momentum trade idea.

Analysis and Rationale

The J. M. Smucker Company (SJM) manufactures and markets food and beverage products worldwide. It operates in four segments: U.S. Retail Pet Foods, U.S. Retail Coffee, U.S. Retail Consumer Foods, and International and Away From Home. The company offers pet food and snacks; mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, shortening and oils, and frozen sandwiches and snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, portion control products, juices and beverages, and baking mixes and ingredients. The company sells its products through direct sales and brokers to food retailers and wholesalers, club stores, discount and dollar stores, online retailers, pet specialty stores, natural foods stores and distributors, drug stores, military commissaries, and mass merchandisers; and through retail channels, and foodservice distributors and operators. The J. M. Smucker Company was founded in 1897 and is headquartered in Orrville, Ohio.

The upper panel of Chart 1 below plots SJM daily since January along with its 200- and 50-day moving averages, widely-watched major and minor trend proxies. The lower panel displays a corresponding daily relative performance chart of SJM versus the benchmark S&P 500 (SPX, blue) along with its 63-day moving average (green, quarterly, our Strategic time period).

Chart 1

The rightmost green highlights in the upper panel show that SJM appears to be resuming its March major uptrend, as defined by its 200-day MA, following the May 26th test of the 50-day MA. Meanwhile, SJM’s current trend of quarterly relative outperformance versus SPX as shown in the lower panel also appears to be resuming following a test of it at that same time. The other green highlight shows that the previous test of the Strategic relative outperformance trend on Apr 26th resulted in the resumption of the positive trends in both panels. A sustained rise above the 50-day MA, currently situated at $132.34, would help to confirm the outright uptrend has resumed and would target an additional 15% rise to $160.00 per share.

Table 1 below shows that considering the aforementioned upside target and a protective stop placed below the $132.07 area, a long entry price of $139.08 would provide a 1:3.0 risk/reward ratio (risking $1.00 to make $3.00) with an initial risk of 5.0%.

Table 1

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Please consult the table showing our Asbury 6 key market metrics to help determine if this investment is suitable for you.

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JM Smucker Co. (SJM) Resuming March Advance

Conclusion, Investment Implications, Strategy

Analysis and Rationale

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JM Smucker Co. (SJM) Resuming March Advance

Conclusion, Investment Implications, Strategy

Analysis and Rationale

Asbury Research

Asbury Research subscribers get more detail on our latest analysis, and updates to our quantitative models

Schedule A 15-Minute Zoom Meeting With Us To Get More Information >>>

Asbury Research subscribers get more detail on our latest analysis,
and updates to our quantitative models