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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish 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 $151.36 and $151.97 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. Traders and investors interested in shares of Mccormick-N/V may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

Based on a current price of $151.33, Mccormick-N/V is currently 26.4% above its average consensus analyst price target of $111.45. The stock should discover initial support at its 50-day moving average (MA) of $142.15 and subsequent support at its 200-day MA of $135.68.

Over the past year, Mccormick-N/V has traded in a range of $99.53 to $156.00 and closed yesterday at $151.33, 52% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

SmarTrend is tracking the current trend status for Mccormick-N/V and will alert subscribers who have MKC in their portfolio or watchlist when shares have changed trend direction.

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

Ticker(s): MKC