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Possible Bearish Inside Day Candle Pattern Detected for Mccormick-N/V (NYSE:MKC)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Mccormick-N/V (NYSE:MKC) based on the price action in the company's shares. Yesterday's price range of $149.22 and $150.35 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Mccormick-N/V may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

McCormick & Company, Inc. manufactures, markets, and distributes flavor products including spices, herbs, extracts, seasonings, and flavorings and other specialty food products to the food industry. The Company sells to retail stores, food manufacturers, and food service businesses.

Mccormick-N/V (NYSE:MKC) is currently priced 25.9% above its average consensus analyst price target of $111.45. The stock should find initial support at its 50-day moving average (MA) of $134.20 and further support at its 200-day MA of $132.40.

Mccormick-N/V share prices have moved between a 52-week high of $156.00 and a 52-week low of $99.53 and closed yesterday at 51% above that low price at $150.35 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.5%.

SmarTrend recommended that subscribers consider buying shares of Mccormick-N/V on March 18th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $140.39. Since that recommendation, shares of Mccormick-N/V have risen 7.3%. We continue to monitor MKC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle mccormick-n/v

Ticker(s): MKC