McCormick & Co. Inc. had positive momentum from 2011 to 2013 as demonstrated by the rising trend-line (dotted line). In mid-2013. it settled in a horizontal trading range mostly between $64 (U.S.) and $73 for about one year (dashed lines). In late-2014, it broke out from this range (A) and now it appears ready to resume the up-trend (B). Behaviour indicators including the rising 40-week moving average (40wMA) and the new rising trend-line (solid line) confirm the positive status. Only a sustained decline below $72-$73 would be negative. Point & Figure measurements provide targets of $89 and $99. Higher targets are visible.
Monica Rizk is the senior technical analyst for Phases & Cycles Inc. (www.phases-cycles.com). Ron Meisels is a contributor to the www.NA-marketletter.com website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.