TMCnet News
Downgrade Alert for Smithfield Foods (SFD)Jun 13, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Smithfield Foods (NYSE:SFD) was downgraded from Buy to Neutral at Davenport today. The stock closed yesterday at $32.75 on volume of 3.8 million shares, below average daily volume of 6.8 million. Smithfield Foods (NYSE:SFD) is currently priced 8.4% above its average consensus analyst price target of $30.00. The stock should discover initial support at its 50-day moving average (MA) of $27.33 and subsequent support at its 200-day MA of $23.47. Over the past year, Smithfield Foods has traded in a range of $17.55 to $33.96 and closed yesterday at $32.75, 87% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 1.5%. 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. SmarTrend recommended that subscribers consider buying shares of Smithfield Foods on January 7th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.98. Since that recommendation, shares of Smithfield Foods have risen 42.5%. We continue to monitor SFD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |