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McCormick & Co. Inc.McCormick & Co. Inc.McCormick & Co. Inc.

McCormick & Co. Inc.

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MCX trade ideas

MKC MAR75/FEB65 DIAGONAL PUTBEAR RALLY SET UP I've had MKC on my watchlist for about a week now. ON January 18th, the 20 day crossed the 50 day and made a new swing low on January 20th. Since then, it had a small bear rally back to prior support resistance of 79.09ish which it hit on the 24th. On the 25th, it traded below the previous day's low, however I waited one more day because I didn't want to get into this before earnings. With the gap down today, I executed my trade as there could be more down side to come based on the technicals. I won't have any stops since I'm set up for max loss and risking less than 2% of my portfolio. I drew a downward trendline/channel from the high of March 2022. On the hour chart, it recognized this channel from about April 20th 2022, to about the middle of May before it sold off. This only has monthly contracts. I was originally going to select the 70 strike, but my idea is that it falls back into this downward channel within the next three weeks to reach my 65 target by the 17th of February. Position management strategies when the stock goes lower If this goes lower below my 65 target, I'll close out the entire combo and move on to my next trade. Position management strategies when the stock goes sideways If this goes sideways, I'll let my 65 strike expire and hang on to my 75 strike until March until it reaches my 65 target. Position management strategies when the stock goes higher If this goes higher, I'll let it all expire worthless since I'm set up for max loss. Position management strategy at expiration Come February 17th, if this is still above my 65 target, I'll hang on to my 75 strike until it does reach my 65 target. If we're at 65 or below 65 come the 17th, I'll close out the entire combo.
NYSE:MKCShort
by motaman1985
Bottom FishingAppears to be close to a bottom down there. Price is still fairly close to support, unlike a lot of the market right now.. From reading, it looks like MKC got in trouble over some Italian seasoning that they have since recalled from the market. Earnings are estimated September 27th. Talking heads were speaking of folks being too afraid to go out to eat )o: I am not sure about that, and possibly just a new narrative, but does seem like things we buy at the grocery store where prices are going up and up daily, and brands like this one, TSN etc. would do well. I looked at TSN but has gapped up and for now I missed that one. The bottom is not always the bottom, was just looking for securities that are not at a yearly high. Yearly high is 105.54 and that is the long term high as well. Long term uptrend noted. No recommendation Orange Xs mark bearish moving average crossovers. Moving averages are almost always look like dead fish down here though )o:
NYSE:MKC
by lauralea
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