SFD our Free Stock Pick for Mon Feb 28, 2011
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.