user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 478608 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.

Bearish Moving Average Cross by Smithfield Foods (SFD)

Published on Mon, 04/15/2013 - 11:22
By Robert Cotter

Smithfield Foods (NYSE:SFD) shares have crossed bearishly below their 10-day moving average of $25.77 on a volume of 554K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Smithfield Foods, Inc. processes pork and produces hogs through its meat processing and hog production groups. The Company also produces and markets a range of branded food products such as frozen barbecues and chilies, peanuts, and pork products. Smithfield's products are sold on a wholesale basis, through catalogs, through its retail stores, and via the Internet.

Smithfield Foods has overhead space with shares priced $25.48, or 4.4% below the average consensus analyst price target of $26.67. The stock should discover initial support at its 50-day moving average (MA) of $24.66 and subsequent support at its 200-day MA of $21.70.

In the past 52 weeks, shares of Smithfield Foods have traded between a low of $17.55 and a high of $27.33 and are now at $25.48, which is 45% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.6%.

By Robert Cotter
rcotter@fnno.com

Latest News from FNNO

Stock Investors Sell Off Shares of Walte...

Walter Investment Management (AMEX:WAC) is one of today's biggest movers, down 2.1% to ...

Scripps Networks Interactive Crosses Bel...

Today, shares of Scripps Networks Interactive (NYSE:SNI) have crossed bearishly below t ...

Shares of Align Technology Under Pressur...

Align Technology (NASDAQ:ALGN) is one of today's notable stocks in decline, down 2.1% t ...

Equinix Bearish Moving Average Crossover...

Today, shares of Equinix (NASDAQ:EQIX) have crossed bearishly below their 10-day moving ...

Shares of Western Digital Under Pressure...

Western Digital (NYSE:WDC) is a company whose shares are active, trading 2.1% lower to ...

Autodesk Crosses Below its 10-day MA (AD...

Autodesk (NASDAQ:ADSK) crossed under its 10-day moving average of $54.91 on a volume of ...

Shares of Health Net Under Pressure, Dow...

Health Net (NYSE:HNT) is a company whose shares are active, trading 2.1% lower to $45.1 ...

Alliance Data Systems Crosses Below its ...

Alliance Data Systems (NYSE:ADS) crossed under its 10-day moving average of $246.62 on ...