The Greedy Trader Weekly Analysis
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Weekly Price vs. Fibonacci:Near 61.8% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 3/15/2024 -
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McCormick & Co. (MKC) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price is close to the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
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It was the negative week for the McCormick & Co. (MKC). During the week, the MKC gave back -0.41 points, or -0.60%, and closed at 68.17 on Friday, March 15, 2024. MKC was trading at average weekly trading volume.

Long-term trend: [See MKC long-term trend chart]
A long-term downtrend had started on June 23, 2023 at 94.38 and reached 59.13 on October 12, 2023. MKC lost 35.25 points, or 37.35%, in 15 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (66.76) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See MKC medium-term trend chart]
A medium-term uptrend had started on October 12, 2023 at 59.13 and reached 70.50 on March 12, 2024. MKC gained -11.37 points, or -19.23%, in 21 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 66.18 and resistance is at 69.22. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend.

Weekly Technical Indicators: [See MKC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 15, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See MKC short-term trend chart]
A short-term uptrend had started on January 18, 2024 at 63.88 and reached 70.50 on March 12, 2024. MKC gained -6.62 points, or -10.36%, in 54 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See MKC daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (4.22%) is close to one year low (3.94%). It is 62.91% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.89
Williams' Percentage Range (W%R) 53.40
Lane's Stochastic (%D-Slow) 46.12
Greed/Fear Indicator (GFI) 48.21
Moving Average Converg./Diverg. (MACD) 0.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.92
Williams' Percentage Range (W%R) 27.20
Lane's Stochastic (%D-Slow) 59.36
Greed/Fear Indicator (GFI) 60.89
Moving Average Converg./Diverg. (MACD) -2.96
Trading Signals
Description Value Chart
Parabolic System 70.25
Upper Bollinger Band 69.54
Weekly Trendline Resistance 69.22
Weekly Stochastic Crossing 68.49
20 Day Moving Average 68.20
Daily Stochastic Crossing 68.19
Price 68.17
50 Day Moving Average 67.22
Monthly Trendline Support 66.76
Lower Bollinger Band 66.66
Weekly Trendline Support 66.18
Monthly Trendline Resistance 58.23
Sector and Industry
Description Name Rank
Sector Consumer Staples 4
Industry Packaged Foods & Meats 21
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 63.88
Low Date 01/18/2024
High 70.50
High Date 03/12/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Valid
Resistance 69.22
Support 66.18
Low 59.13
Low Date 10/12/2023
High 70.50
High Date 03/12/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 58.23
Support 66.76
High 94.38
High Date 06/23/2023
Low 59.13
Low Date 10/12/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 107.35
High Date 03/07/2022
Low 59.13
Low Date 10/12/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 211.07
High Date 09/03/2020
Low 59.13
Low Date 10/12/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.