These 2 stocks are both on the move, one hitting a new 52-week high and the other moving into position to do so. – Charting Zacks Elite Stocks
Source: http://www.zacks.com/commentary/12821/These+2+stocks+are+both+on+the+move%2C+one+hitting+a+new+52-week+high+and+the+other+moving+into+position+to+do+so.++-+Charting+Zacks+Elite+StocksPosted on Friday, November 20th, 2009 | In Investing Lessons, Stocks to Watch
The JM Smuckers Company (SJM) just surged above the 52-week high and is now pressuring the 2-yr. high on a strong Q3 earnings surprise that was fueled by the company’s acquisition of Folgers. Shares of SJM had been pressuring the medium-term level of resistance just above $55 since mid August but had been able to push higher. Moving forward, if shares pull back, this area should provide support. Take a look below.
McDonalds Corp. (MCD) has moved within striking distance of the 52-week and all-time high at $64.75 after breaking above a down trend line and key level of short-term resistance just above $61. With the market showing some signs of weakness lately in response to concern about a sustainable recovery, some of the more established, large-cap stocks could fall back into favor as a defensive measure. Take a look at the nice formation below.
Last 5 posts by Michael Vodicka
- GSI Commerce, Inc. - Momentum - Zacks Rank Buy - February 9th, 2010
- Visa, Inc. - Momentum - Zacks Rank Buy - February 8th, 2010
- Ford Motor Co. - Momentum - Zacks Rank Buy - February 5th, 2010
- This energy-services company recently dipped lower from its 52-week high to a key trend line. - Charting Zacks Elite Stocks - February 5th, 2010
- Korn/Ferry International, Inc. - Momentum - Zacks Rank Buy - February 4th, 2010
 About Michael Vodicka (http://www.zacks.com/)
Michael is an Editor at Zacks Investment Research who covers the Momentum and Aggressive Stocks for the Zacks Rank Buys. |
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