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- 3/28/2024 -
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McCormick & Co. (MKC) Technical Analysis

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtThe price is above the upper Bollinger Band
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It was a second consecutive positive week for the McCormick & Co. (MKC). During the week, the MKC gained 6.78 points, or 9.68%, and closed at 76.81 on Thursday, March 28, 2024. Weekly volume was 168% above average.

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 (67.41) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. MKC may retest the broken resistance line. It is considered to be a support line now. 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 77.77 on March 27, 2024. MKC gained -18.64 points, or -31.52%, in 23 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (66.77) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 medium-term trend.

Weekly Technical Indicators: [See MKC weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 15, 2023. This is an indication that the medium-term trend is up. 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 77.77 on March 27, 2024. MKC gained -13.89 points, or -21.74%, in 69 days. The chart has formed a Ascending Triangle chart pattern.

Daily Technical Indicators: [See MKC daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since March 20, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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) 75.39
Williams' Percentage Range (W%R) 9.10
Strong Overbought
Lane's Stochastic (%D-Slow) 86.02
Overbought
Greed/Fear Indicator (GFI) 84.10
Overbought
Moving Average Converg./Diverg. (MACD) 1.02
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.23
Williams' Percentage Range (W%R) 6.90
Strong Overbought
Lane's Stochastic (%D-Slow) 76.54
Greed/Fear Indicator (GFI) 75.58
Moving Average Converg./Diverg. (MACD) -2.52
Trading Signals
Description Value Chart
Price 76.81
Upper Bollinger Band 76.45
Daily Stochastic Crossing 76.37
Weekly Stochastic Crossing 74.91
20 Day Moving Average 70.00
Parabolic System 69.99
Weekly Trendline Resistance 69.04
50 Day Moving Average 68.16
Monthly Trendline Support 67.41
Weekly Trendline Support 66.77
Lower Bollinger Band 64.86
Sector and Industry
Description Name Rank
Sector Consumer Staples 5
Industry Packaged Foods & Meats 30
Daily Trend
Description Value
Direction Up
Chart Pattern Ascending Triangle
Low 63.88
Low Date 01/18/2024
High 77.77
High Date 03/27/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 69.04
Support 66.77
Low 59.13
Low Date 10/12/2023
High 77.77
High Date 03/27/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 56.46
Support 67.41
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.