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Downtrend ResistanceArchive
- 1/3/2025 -
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McCormick & Co. (MKC) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the McCormick & Co. (MKC). During the week, the MKC dropped -1.20 points, or -1.56%, and closed at 75.85 on Friday, January 3, 2025. Weekly volume was -35% below average.
 Long-term trend: [See MKC long-term trend chart]
A long-term uptrend had started on October 12, 2023 at 59.13 and reached 85.49 on September 16, 2024. MKC gained -26.36 points, or -44.58%, in 48 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 72.69 and resistance is at 90.17. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See MKC medium-term trend chart]
A medium-term downtrend had started on September 16, 2024 at 85.49 and reached 72.51 on November 15, 2024. MKC lost 12.98 points, or 15.18%, in 8 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See MKC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 25, 2024. This is an indication that the medium-term trend is down. 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 November 15, 2024 at 72.51 and reached 82.13 on December 11, 2024. MKC gained -9.62 points, or -13.27%, in 26 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (84.29) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. MKC may retest the broken support line. It is considered to be a resistance 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 support in a short-term trend.
 Daily Technical Indicators: [See MKC daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Lane's Stochastic or strongly oversold daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since December 19, 2024.
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