McCormick & Company Incorporated Stock Forecast
Green day on Friday for McCormick & Company Incorporated stock after gaining 0.413%
(Updated on May 03, 2024)
The McCormick & Company Incorporated stock price gained 0.413% on the last trading day (Friday, 3rd May 2024), rising from $75.14 to $75.45. During the last trading day the stock fluctuated 1.51% from a day low at $75.01 to a day high of $76.15. The price has risen in 7 of the last 10 days and is up by 2.07% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 269 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $116.47 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $74.24 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.44% during the next 3 months and, with a 90% probability hold a price between $86.45 and $96.17 at the end of this 3-month period.
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MKC Signals & Forecast
The McCormick & Company Incorporated stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $75.54. On a fall, the stock will find some support from the long-term average at approximately $73.86. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -3.60%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for McCormick & Company Incorporated stock
On the downside, the stock finds support just below today's level from accumulated volume at $69.94 and $68.08. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, McCormick & Company Incorporated finds support just below today's level at $69.94. If this is broken, then the next support from accumulated volume will be at $68.08 and $67.53.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.13 (1.51%) between high and low. For the last week, the stock has had daily average volatility of 1.60%.
Our recommended stop-loss: $72.62 (-3.76%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (MKC) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect McCormick & Company Incorporated to open at $75.54, and during the day (based on 14 day Average True Range), to move between $74.03 and $76.87, which gives a possible trading interval of +/-$1.42 (+/-1.88%) up or down from last closing price. If McCormick & Company Incorporated takes out the full calculated possible swing range there will be an estimated 3.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $76.03 (0.77%) than the support at $69.94 (7.30%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is McCormick & Company Incorporated stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for McCormick & Company Incorporated stock to perform well in the short-term.
Current score: 1.484 Buy Candidate Unchanged
Predicted Opening Price for McCormick & Company Incorporated of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$75.54 ( 0.113%) | $75.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MKC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 76.67 | 1.62 % | |
R2 | 76.24 | 1.04 % | ||
R1 | 75.97 | 0.687 % | ||
Current price: | 75.45 | |||
Support | S1 | 75.10 | -0.462 % | |
S2 | 74.83 | -0.82 % | ||
S3 | 74.40 | -1.39 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 78.27 | 3.74 % | |
R2 | 77.30 | 2.45 % | ||
R1 | 76.03 | 0.769 % | ||
Current price | 75.45 | |||
Support | S1 | 69.94 | -7.30% | |
S2 | 68.08 | -9.77% | ||
S3 | 67.53 | -10.50% |
MKC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 05, 2024 | Apr 05, 2024 | Apr 22, 2024 | $0.420 | 0.562% |
2 | Nov 28, 2023 | Dec 29, 2023 | Jan 08, 2024 | $0.420 | 0.625% |
3 | Nov 28, 2023 | Dec 28, 2023 | Jan 08, 2024 | $0.420 | 0.625% |
4 | Sep 28, 2023 | Oct 06, 2023 | Oct 24, 2023 | $0.390 | 0.626% |
5 | Jun 27, 2023 | Jul 07, 2023 | Jul 24, 2023 | $0.390 | 0.439% |
FAQ
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