... IBD rates this stock A+ overall... it appears SFD is just "basing"... we have a firm support just above 22...if one gives fibonacci ratios any merit, the 61.80% retracement on the gain from a low on Oct 15th of 19.25 to the high of 26.93 on Dec 5 is 22.18...
Chaz,...I belive also that SFD is marking time, but note the stock has been under accumulation since January 1st, after investors took profits in December. And the Rabbitt Rank (sum of fundamental and technicals) indicates some deterioration in the last 2 weeks.
Will have another pork chop (low cal) in the meantime.....(smiles).
I think it's just an overall lack of volume. On any given day, there will be sellers, and if there is noone to take the other side of the trade, the price has to decline. Selling in the face of low volume is incredibly dumb, and always assures the seller of a costly exit. That's one of the ways that market-makers make money, taking the price lower on low volume days, and reselling when interest reemerges and prices move higher. Patience always rewards the smart investor, which may include you if you bought anywhere from the last low to here. My purchase was @ 22.25 recently, as you may tell from my first posts to this board. I owned this stock once before. The company is well run, and the ceo is respected by his peers. I think that the earnings estimate for this quarter is too low, and that the company will beat the 39 cent forcast by at least a nickel. I'm waiting for the release from Tyson on the 28th to get a better handle on Smithfield's quarter. I expect revenues of 1.8 bil. from this quarter. What is your opinion on guidance?