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Downtrend ResistanceArchive
- 4/5/2024 -
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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 -1.34 points, or -1.74%, and closed at 75.47 on Friday, April 5, 2024. It was the worst weekly loss since February 9, 2024. Weekly volume was 32% 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 (67.77) 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 78.41 on April 2, 2024. MKC gained -19.28 points, or -32.61%, in 24 weeks. The price is now at the 15.25% retracement level.
 Weekly Technical Indicators: [See MKC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. 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 and 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 78.41 on April 2, 2024. MKC gained -14.53 points, or -22.75%, in 75 days. The chart has formed a Rising Wedge chart pattern.
 Daily Technical Indicators: [See MKC daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since March 20, 2024. This is an indication that the short-term trend is up.
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