Smucker (J.M.) Co [ NYSE: SJM ]Smucker (J.M.) Co
Pending Order Placement
Entry Placement 125.62
Take Profit Placement 141.20
Stop Loss Placement 115.23
SJM trade ideas
Smuckers LONG breakout potentialAs SJM broke its minor downward trendline and came back down to a retest, a long position is entered with a tight stop.
Factors leading to the decision:
The small recent downtrend has been broken
The downtrend was broken after a few bounces off of major support that's been important for months
The 20ma was broken, pulling in moving-average traders off the side-lines
A recent low offers a perfect spot to put a logical technical stop
Price just now broke through recent highs, showing more strength
As always, respect a tight-stop. If it rips up, let it run and trail stops behind.
RSI moving over 50 ----- Double Bottom FORMED! Positive RSI moving over 50 ----- Double Bottom FORMED! Positive potential for reversal - Moving upward. It seems like a trend is forming to LONG. BUT a miss on earnings may STALL things a bit. 1.85 actual instead of the estimate at 2.00
SJM - BearishSJM appears to be near in completing a Wave4 retracement of an impulse move lower. Looking for further price move down to 90-97.5 for a Wave 5 target of impulse bearish move.
Short SJM for continuation of downtrendThis 60m chart of SJM shows a decisive sell-off from 126 to 96 (20%+) between April and June. Even without knowing the larger degree wave count, it seems fair to label the move as a Wave 3 based on the prior structure of Waves 1 & 2, as well as the momentum measured by RSI. Technical indicators are typically strongest during Wave 3, which is evidenced by RSI holding below 60 throughout the sell-off.
I'm counting the ongoing consolidation as a Wave 4 triangle which, if broken, should lead to a subsequent push lower in Wave 5. Initiating a short position at 108.50 for a move back toward 98.50. A sustained rally up to 118.50 will cause me to reevaluate the trade.
sjm support I make stock analyses before the opening, these levels i draw are strong support/resistance and are the most powerfull on the same day. So i use them the moment when the market opens.
You can see somethimes i use 2 - 3 levels because i dont know where the market will open.
when the market open i see witch levels are still valid if it gaps above or under my level this one cannot used anymore.
If price come close to my level i place a limit order.
time frame i use are 5-10 min candles if price close right under or below the level with few penny's its of the table ! my risk reward ratio is 2:1 would be good to use trial these are scalp trades in high illiquidity market conditions !
WHAT A BOUNCE !!!!WE BOUGHT THIS ONE @ $131.20 ON FRIDAY'S GAP DOWN AND WE WERE VERY PLEADES WITH THE CLOSE NEAR THE HIGHS. THIS MORNING'S RUN WAS MORE THAN IMPRESSIVE AND ALTHOUGH I STILL LIKE THE TRADE I ALSO KNOW EXCESSIVE WHEN I SEE IT, SO I SOLD THE 3/145 CALLS @ $2.25. IF I LOSE THE STOCK @ $147.25 VS 131.25 THAT'S FINE BUT RIGHT NOW THOSE CALLS ARE BACK TO $1.40 BID...OZ
WHAT A BOUNCE !!!WE BOUGHT THIS ONE @ $131.20 ON FRIDAY'S GAP DOWN AND WERE VERY PLEASED WITH THE CLOSE NEAR THE HIGHS. THIS MORNING'S RUN WAS MORE THAN IMPRESSIVE AND ALTHOUGH I STILL LIKE THE TRADE I ALSO KNOW EXCESSIVE WHEN I SEE IT, SO I SOLD THE 3/145 CALLS @ $2.25. IF I LOSE THE STOCK @ $147.25 VS 131.20 THAT'S FINE BUT RIGHT NOW THOSE CALLS ARE BACK TO $1.40 BID....OZ
TOOK A POSITION ON THE BREAKBOUGHT THIS "DEFENSIVE NAME @ $131.20 THIS MORNING ON THE BREAK THRU THE LOWER BOLLINGER BAND. THE OPTIONS HAD NO LIQUIDITY SO HAD NO CHOICE. IT WAS DOWN WITH MANY OF THE "CONSUMER/FOOD" STOCK ON THE KRAFT/ UL DEAL AND I'VE TRADED THIS ONE BEFORE.WELL SUPPORTED FROM HERE DOWN TO 127-128. BEPATIENT, BUT DON'T BE SURPRISED IF IT GAPS BACK UP WITH A CLOSE NEAR THE HIGH OF DAY...OZ
SJM 1/130 CALLS BOT @ $ .80 YESTERDAYCALLS BOT @ $ .80 YESTERDAY ARE ABOUT TO TRIGGER 100% "UP RULE" @ $1.60.
LAST IS $1.45 BUT OFFERED $1.85.
SELL THEM @ $1.60 ob...OZ
$SJM uptrend continues wilsonsfinancemind.comLooking to join this longterm uptrend. Breakout on the 5 year chart continues on the weekly. Look for entry above 156.33. Stop below $146.00
SJMHere you may trade according to the principle of "fire and forget". "Deadly cross" signaled the beginning of a bearish trend. EMA 50 can use like stop line.
