MKC seems breaking down key support label. It has fair amount of insider selling, higher price to cashflow.
On the weekly chart moneyflow is diverging & toping at this moment. Overall it seems a very good momentum short setup.
* Trade Criteria *
Date First Found- June 21, 2017
Pattern/Why- Breaking down momentum short; Potential double top
Entry Target...
Upward wedge ... stock is close to overbought ... market rally could continue into wednesday help push it to previous high of 1025 ... if it can't break 102.5 it has nowhere to go but down ... below average earnings expected on thursday ... will send it tumbling to that bottom support around 100.42 ... expect market to pullback in second half of week, helping this process
In hindsight: Notice how a simple company like McCormick (the spice company - who doesn't have McCormick in their kitchen?) has quietly gone from $5 in late 1989 to near $50 in late 2011. That is a 10-fold return or 1000% return (excluding plenty of dividends along the way) in less than 22 years. That works out to an 11% compound rate of return. MKC also paid...
