McCormick & Company Incorporated Stock Forecast

McCormick & Company Incorporated stock price up 1.11% on Wednesday
(Updated on Apr 24, 2024)

MKC Signals & Forecast

The McCormick & Company Incorporated stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $73.75 and $72.49. A breakdown below any of these levels will issue sell signals. 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 -3.09%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

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 $68.60. 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 $68.60 and $68.08.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.32 between high and low, or 3.15%. For the last week, the stock has had daily average volatility of 1.78%.

Since the McCormick & Company Incorporated has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $72.58 (-4.31%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (MKC) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect McCormick & Company Incorporated to open at $75.18, and during the day (based on 14 day Average True Range), to move between $74.34 and $77.36, which gives a possible trading interval of +/-$1.51 (+/-1.99%) up or down from last closing price. If McCormick & Company Incorporated takes out the full calculated possible swing range there will be an estimated 3.98% 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 (0.24%) than the support at $69.94 (7.79%), 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: 4.697 Buy Candidate Unchanged

Predicted Opening Price for McCormick & Company Incorporated of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.