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SFD our Free Stock Pick for Mon Feb 28, 2011

by Sinisa Persich, Mon February 28th 2011

Be alerted when Sinisa posts an article

Smithfield Foods Inc. (SFD), after a big 15% surge in the beginning of February, consolidated in a tight rectangle pattern whose upper trend line at 23.00 now represents a key resistance level.

A breakout above that level could move the stock to test the upper channel line in the 24.00 area. Preferred entry (buy stop) price is at 23.05 with a stop loss price at 22.40.

See our Trading Rules page for more detail.