The bearish DailyPlay we chose for Friday Sept 22nd is J.M. Smucker (SJM). SJM is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 1.44% move lower and its 1m and 6m trend has turned bearish on 9/20 while breaking below its 200D SMA.
J.M. Smucker’s 1m and 6m trends turned bearish on 9/20 while breaking below its $106.50 support level which now becomes resistance. With a technical score of 1 (out of 10), SJM is a strong bearish stock that is likely to continue lower.
As a stop loss, if SJM was to trade above $106.50 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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