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

By David Diaz

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 $155.20 and $155.91 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-N/V (NYSE:MKC) is currently priced 28.2% above its average consensus analyst price target of $111.45. The stock should discover initial support at its 50-day moving average (MA) of $151.38 and subsequent support at its 200-day MA of $139.75.

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.

In the past 52 weeks, shares of Mccormick-N/V have traded between a low of $99.53 and a high of $157.00 and closed yesterday at $155.20, which is 56% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.1%.

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: bearish am inside day candle mccormick-n/v

Ticker(s): MKC