After Yesterday's Rally of 2.19% Shares Could Potentially Pullback
McCormick & Co (NYSE:MKC) traded in a range yesterday that spanned from a low of $95.53 to a high of $97.42. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $94.40 on volume of 710,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
McCormick & Co share prices have moved between a 52-week high of $107.84 and a 52-week low of $75.19 and are now trading 28% above that low price at $96.12 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.2%.
SmarTrend recommended that its subscribers protect gains by selling shares of McCormick & Co on August 3rd, 2016 by issuing a Downtrend alert when the shares were trading at $100.79. Since that call, shares of McCormick & Co have fallen 6.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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