The Greedy Trader Weekly Analysis
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McCormick & Co.
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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtMACD bearish divergence
Daily :Relative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtThe Bollinger Bands are historically far apart
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It was a second consecutive positive week for the McCormick & Co. (MKC). During the week, the MKC gained 3.29 points, or 2.83%, and closed at 119.38 on Friday, July 06, 2018. Weekly volume was 29% above average.

Long-term trend: [See MKC long-term trend chart]
A long-term uptrend had started on April 16, 2009 at 28.08 and reached 119.86 on July 6, 2018. MKC gained -91.78 points, or -326.85%, in 481 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 96.84 and resistance is at 131.00. 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 119.86 on July 6, 2018. MKC gained -57.11 points, or -91.01%, in 230 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend resistance line (99.93) 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. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 link to access 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. 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 119.86 on July 6, 2018. MKC gained -20.33 points, or -20.43%, in 29 days. Price is near the trend high.

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

The daily MACD line is above its signal line since June 8, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.

The distance between the Bollinger Bands (17.26%) is close to one year high (13.79%). It is 149.59% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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) 83.15
Overbought
Williams' Percentage Range (W%R) 8.50
Strong Overbought
Lane's Stochastic (%D-Slow) 89.66
Overbought
Greed/Fear Indicator (GFI) 88.11
Overbought
Moving Average Converg./Diverg. (MACD) 2.16
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.73
Williams' Percentage Range (W%R) 7.80
Strong Overbought
Lane's Stochastic (%D-Slow) 61.55
Greed/Fear Indicator (GFI) 71.15
Moving Average Converg./Diverg. (MACD) 1.04 Bearish
Trading Signals
Description Value Chart
Yearly Trendline Resistance 131.00
Upper Bollinger Band 120.45
Price 119.38
Daily Stochastic Crossing 118.48
Monthly Trendline Resistance 117.22
Weekly Stochastic Crossing 114.62
Parabolic System 113.36
20 Day Moving Average 108.89
50 Day Moving Average 105.82
Quarterly Trendline Resistance 105.00
Monthly Trendline Support 100.40
Quarterly Trendline Support 99.93
Lower Bollinger Band 99.85
Yearly Trendline Support 96.84
Sector and Industry
Description Name Rank
Sector Consumer Goods 4
Industry Processed/Packaged Goods 84
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 113.89
Low Date 06/29/2018
High 119.86
High Date 07/06/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 99.53
Low Date 06/07/2018
High 119.86
High Date 07/06/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 117.22
Support 100.40
Low 90.25
Low Date 07/19/2017
High 119.86
High Date 07/06/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 105.00
Support 99.93
Low 62.75
Low Date 02/07/2014
High 119.86
High Date 07/06/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 131.00
Support 96.84
Low 28.08
Low Date 04/16/2009
High 119.86
High Date 07/06/2018
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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