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.
Zacks Investment Research
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