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Next Support Level for McCormick & Co (MKC) is $70.13

Published on Tue, 04/09/2013 - 09:42
By Mallory Stone

Shares of McCormick & Co (NYSE:MKC) opened today below their pivot of $70.91 and have already reached the first level of support at $70.62. Investors may be interested in a cross of the next downside pivot targets of $70.13 and $69.35.

Over the past year, McCormick & Co has traded in a range of $53.31 to $73.70 and is now at $70.62, 32% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.5%.

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.

Based on a current price of $70.62, McCormick & Co is currently 9.0% above its average consensus analyst price target of $64.27. The stock should find initial support at its 50-day moving average (MA) of $67.73 and further support at its 200-day MA of $63.71.

By Mallory Stone
mstone@fnno.com

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