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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.

Archive
- 12/8/2017
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McCormick & Co.
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Summary:
Weekly :Oversold sector
Daily :The price has fallen below the Parabolic SAR
Move cursor over the icon to see details.

It was the negative week for the McCormick & Co. (MKC). During the week, the MKC dropped -1.69 points, or -1.64%, and closed at 101.16 on Friday, December 08, 2017. Weekly volume was 12% 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 107.84 on July 5, 2016. MKC gained -79.76 points, or -284.05%, in 376 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 89.98 and resistance is at 124.63. 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 uptrend had started on February 7, 2014 at 62.75 and reached 107.84 on July 5, 2016. MKC gained -45.09 points, or -71.86%, in 125 weeks. The chart has formed a Rising Pennant chart pattern. The trend support level is at 98.01 and resistance is at 105.80. A Rising Pennant chart pattern represents a brief pause after a sharp move in a dynamic market. It is considered one of the most reliable continuation patterns.Use the following link to access a Rising Pennant chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Pennant 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 November 10, 2017. 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 November 7, 2017 at 93.70 and reached 104.76 on December 5, 2017. MKC gained -11.06 points, or -11.80%, in 28 days. The chart has formed a Rising Channel chart pattern.

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

The daily MACD line is above its signal line since November 15, 2017. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.56
Williams' Percentage Range (W%R) 29.30
Lane's Stochastic (%D-Slow) 62.86
Greed/Fear Indicator (GFI) 64.05
Moving Average Converg./Diverg. (MACD) 1.05
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.84
Williams' Percentage Range (W%R) 21.70
Lane's Stochastic (%D-Slow) 55.33
Greed/Fear Indicator (GFI) 61.98
Moving Average Converg./Diverg. (MACD) 0.11
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 105.80
Upper Bollinger Band 105.11
Parabolic System 104.71
Daily Stochastic Crossing 102.82
Monthly Trendline Resistance 101.66
Price 101.16
Weekly Stochastic Crossing 100.90
20 Day Moving Average 100.40
50 Day Moving Average 99.20
Quarterly Trendline Support 98.01
Lower Bollinger Band 96.43
Monthly Trendline Support 94.67
Yearly Trendline Support 89.98
Sector and Industry
Description Name Rank
Sector Consumer Goods 2
Industry Processed/Packaged Goods 90
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 93.70
Low Date 11/07/2017
High 104.76
High Date 12/05/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 90.25
Low Date 07/19/2017
High 104.76
High Date 12/05/2017
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Test Resistance
Resistance 101.66
Support 94.67
High 106.50
High Date 06/14/2017
Low 90.25
Low Date 07/19/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Valid
Resistance 105.80
Support 98.01
Low 62.75
Low Date 02/07/2014
High 107.84
High Date 07/05/2016
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 124.63
Support 89.98
Low 28.08
Low Date 04/16/2009
High 107.84
High Date 07/05/2016
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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