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

Recent 52-Week Low Surpassed in Shares o...

Walter Energy (NYSE:WLT) traded today at a new 52-week low of $2.68. Approximately 6.7 ...

Shares of WellPoint Have Risen Above Pre...

WellPoint (NYSE:WLP) traded at a new 52-week high today of $124.48. This new high was ...

Walter Investment Management Looks to Co...

Shares of Walter Investment Management (AMEX:WAC) traded today at $22.95, breaking its ...

Shares of Volcano Fall Below Previous 52...

Volcano (NASDAQ:VOLC) traded today at a new 52-week low of $11.09. This new low was re ...

Shares of Meridian Bioscience Fall to a ...

Meridian Bioscience (NASDAQ:VIVO) traded at a new 52-week low today of $17.90. So far ...

Vale: The Losing Streak Continues (VALE)...

Vale (NASDAQ:VALE) traded today at a new 52-week low of $11.35. So far today approxima ...

United Therapeutics: The Winning Streak ...

United Therapeutics (NASDAQ:UTHR) traded today at a new 52-week high of $132.78. So fa ...

Tupperware Brands: New 52-Week Low Set T...

Shares of Tupperware Brands (NYSE:TUP) traded today at $71.85, breaking its 52-week low ...