After Yesterday's Rally of 3.84% Shares Could Potentially Pullback
McCormick & Co (NYSE:MKC) traded in a range yesterday that spanned from a low of $101.00 to a high of $107.01. Yesterday, the shares gained 3.8%, which took the trading range above the 3-day high of $103.41 on volume of 996,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, McCormick & Co share prices have been bracketed by a low of $75.19 and a high of $106.46 and are now at $106.38, 41% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.3%.
SmarTrend recommended that subscribers consider buying shares of McCormick & Co on May 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $96.35. Since that recommendation, shares of McCormick & Co have risen 6.6%. We continue to monitor MKC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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