August 26 Chart of the Day - The J. M. Smucker Company
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
The J. M. Smucker Company (SJM), a household name across packaged foods and beverages, has been battling relentless selling pressure while the broader market set new highs.
Traders and investors alike are asking the same question—is the bottom finally in?
The charts give us the clearest answer. Let’s break it down.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.
Since May 2023, we've showcased over 575+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method™.
Monthly Chart
On the monthly chart, price has been in a long, grinding downtrend since peaking back in late 2022. Each attempt at a bounce has been met with supply stepping back in, pushing price lower.
However, this month’s candle is showing early signs of potential exhaustion—long wicks hint at demand stepping up around prior structural levels.
If buyers can defend this area, it sets the stage for a possible shift in trend momentum. A firm monthly close above the immediate resistance zone would be the first clue that the worst may be behind us.
With plenty of volatility traders have had much to be happy with while investors seemingly have been disappointed.
This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.
Weekly Chart
The weekly chart sharpens the focus. Here, we can see that price has recently tested a critical demand zone—one that’s acted as both support and resistance multiple times in the past decade.
Notice how the last few weekly candles show smaller ranges and overlapping bodies, a hallmark of balance forming after an extended decline. This type of price behavior often precedes a larger directional move.
Bulls will want to see a decisive break above the nearest swing high to confirm a reversal attempt is underway, while bears may view this as nothing more than a pause before the next leg lower.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.
With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
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