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Downtrend Broken Resist.Archive
- 9/6/2024 -
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McCormick & Co. (MKC) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the McCormick & Co. (MKC). During the week, the MKC gained 2.85 points, or 3.56%, and closed at 82.88 on Friday, September 6, 2024. Weekly volume was 33% above average.
MKC is a member of Consumer Staples Sector. Consumer Staples is the second most overbought 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 downtrend had started on March 7, 2022 at 107.35 and reached 59.13 on October 12, 2023. MKC lost 48.22 points, or 44.92%, in 83 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (82.33). 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 October 12, 2023 at 59.13 and reached 83.58 on September 6, 2024. MKC gained -24.45 points, or -41.35%, in 47 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 69.45 and resistance is at 90.25. 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 medium-term trend.
 Weekly Technical Indicators: [See MKC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 July 19, 2024. 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 26, 2024 at 66.88 and reached 83.58 on September 6, 2024. MKC gained -16.70 points, or -24.97%, in 72 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 80.42 and resistance is at 83.94. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.
 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 link to access Relative Strength Index help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
The price touches the upper Bollinger Band. 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.
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