McCormick is NOT following the recent market

  • Company: McCormick
  • Stock Ticker: MKC
  • Bias: Bullish 

Speaking of looking for something that isn’t following the market (here), McCormick is exactly the type of bullish swing trade you might want to take.

MKC showed up on one of my custom scanners and I really like this pattern. It broke and made new highs, then retracted making an evening star reversal pattern. While that’s usually a bearish sign I personally don’t think its going to play out simply because today’s session will boost market sentiment and I can see many participants looking at a buy the dip opportunity on MKC.

Here’s how’d I play it. I would but a buy stop limit at 141.00 and once I’d be triggered into this trade, I’d place my stop just below the low of mini hammer on the 26th of October (around 136.20). A move below that would invalidate this trade.

MKC Chart oct 29

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