The Greedy Trader Weekly Analysis
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Quarterly Pattern:Rising Pennant
Number of records: 3
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Chart Analysis and Chart Pattern Recognition – Bear Flag, Bull Flag, Bearish Pennant and Bullish Pennant.

Bear flag, bull flag, bearish pennant and bullish pennant chart patterns represent brief pauses after sharp moves in a dynamic market. They are considered as most reliable continuation patterns. Flags are characterized as short-term channels slanting against the main trend. Pennants represent short-term triangle formations. Volume is heavy during the sharp move preceding the formation.
Trading technique:
# 1 Flags and pennants present an additional opportunity to enter the dynamic market.
Tips:
# 1
Usually flags and pennants represent short-term pauses technically required to reset overbought/oversold technical indicators and allow further movement. They likely to appear at earlier stages of the larger patterns, when short-term technical indicators are grossly overbought/oversold, but long-term indicators are in the middle range. In a situation when both long and short-term indicators are overbought (oversold), flags and pennants have more chances to become the beginning of a larger formation. Flags and pennants are considered invalid as soon as they break the parent's formation trend line.
# 2 As a continuation pattern, rectangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. Rectangle resets daily CTI to neutral and then continues the movement in parent's direction.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: projected support/resistance level of larger trend.

McCormick & Co.
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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtOversold sectorTrend resistance at 133.85
Daily :Broken trend support lineWilliams' Percentage Range and Lane's Stochastic are strongly overboughtDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
Move cursor over the icon to see details.

It was a second consecutive positive week for the McCormick & Co. (MKC). During the week, the MKC gained 4.00 points, or 3.04%, and closed at 135.75 on Friday, October 05, 2018. Weekly volume was 20% above average.

MKC is a member of Consumer Goods Sector. Consumer Goods is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See MKC long-term trend chart]
A long-term uptrend had started on April 16, 2009 at 28.08 and reached 136.24 on October 5, 2018. MKC gained -108.16 points, or -385.19%, in 494 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (133.85). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See MKC medium-term trend chart]
A medium-term uptrend had started on February 7, 2014 at 62.75 and reached 136.24 on October 5, 2018. MKC gained -73.49 points, or -117.12%, in 243 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend resistance line (102.05) 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 Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since June 22, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 June 7, 2018 at 99.53 and reached 136.24 on October 5, 2018. MKC gained -36.71 points, or -36.88%, in 120 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (136.93) is broken. A broken support is considered to be a long-term bearish 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 support in a short-term trend.

Daily Technical Indicators: [See MKC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic.

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

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) 61.21
Williams' Percentage Range (W%R) 8.80
Strong Overbought
Lane's Stochastic (%D-Slow) 92.45
Strong Overbought
Greed/Fear Indicator (GFI) 81.60
Overbought
Moving Average Converg./Diverg. (MACD) 2.00
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 80.34
Overbought
Williams' Percentage Range (W%R) 3.40
Strong Overbought
Lane's Stochastic (%D-Slow) 91.07
Strong Overbought
Greed/Fear Indicator (GFI) 84.62
Overbought
Moving Average Converg./Diverg. (MACD) 5.51
Trading Signals
Description Value Chart
Weekly Trendline Support 136.93
Weekly Trendline Resistance 135.95
Price 135.75
Daily Stochastic Crossing 135.06
Upper Bollinger Band 135.05
Weekly Stochastic Crossing 134.59
Yearly Trendline Resistance 133.85
20 Day Moving Average 131.54
Parabolic System 129.66
Lower Bollinger Band 127.12
50 Day Moving Average 126.45
Monthly Trendline Resistance 121.77
Sector and Industry
Description Name Rank
Sector Consumer Goods 2
Industry Processed/Packaged Goods 93
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 122.00
Low Date 09/27/2018
High 136.24
High Date 10/05/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 135.95
Support 136.93
Low 99.53
Low Date 06/07/2018
High 136.24
High Date 10/05/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 121.77
Support 103.06
Low 90.25
Low Date 07/19/2017
High 136.24
High Date 10/05/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 104.64
Support 102.05
Low 62.75
Low Date 02/07/2014
High 136.24
High Date 10/05/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 133.85
Support 98.76
Low 28.08
Low Date 04/16/2009
High 136.24
High Date 10/05/2018
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.

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