MKC has earnings tomorrow BMO. Trading on earnings is risky business! I have found they can beat earnings and still go down, especially on a day like today, so always trade safely
Entry: 174.75
Stop: Under handle low so below 164
Target 1: 199 to 210
Target 2: 251 to 270.
I predict that MKC grows by 4% to $179.89 or more within the next month. Keeping in mind similar previously-analyzed scenarios where the stock trended up during the month, the odds of an Uptrend continuation are 89%.
System T Performances: Annual Compound Profit 40%, Win Rate 55%, Risk/Reward Ratio 1:2, 20 Years of Backtesting Data, Over 100 Markets.
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Hi Traders,
I'd like to introduce the System T, a computerized trading system that analyzed and backtested the 20 years history data of over 100 markets.
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Better than expected earnings and improved guidance have turned many investors attention towards NYSE:MKC , market weakness hampered a bullish surge today, but it is well worth keeping this stock on strong watch.
Average analysts price target $154
Average analysts recommendation Hold
Short interest 6.7%
P/E ratio 32
Company profile...
MKC: McCormick & Company, Inc.
2019-10-01 06:30:00
McCormick Reports Strong Third Quarter Performance And Increases Full Year Earnings Per Share Outlook
MKC breaking down from a long upward channel. It has strong twiggs money flow divergence and crossed down its MA 100 line. Overall looks good as short setup.
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Bearish engulfing, red outside; at the top of a nice run...
No new high
Yes calling the top! ;)
Weak volume on lower time frames... Who trades this sh!t?!?!?!?
MACD signaling inflection to the downside
Stoch showing third trigger to sell in oversold range
Small gap to fill 10/15
Gap/go turns to Gap/retest lower
S/L 146.65
T/P 133.47
R/R 2.16
Profit Trading!
#MKC has formed a double bottom on the monthly charts. The daily and weekly charts look good. Macd crossing up. Stoch RSI leading up. OBV is ok. I think this will be a good one to ride this year.
