MKC🧩 Chart Structure & Trend
The chart shows a bullish breakout from a short-term consolidation pattern, confirmed by a recent bounce from the uptrend support line (red ascending trendline).
The price is currently hovering near the entry level at 76, suggesting a good risk-to-reward setup if momentum continues upward.
🛡️ Risk Management
Stop Loss is well-placed below the trendline and key support level at 72.55. This helps limit downside risk if the breakout fails.
The risk from entry (76 to 72.55) is 3.45 units, and the reward (82.96 – 76) is 6.96 units, giving an R:R ratio of ~2:1, which is favorable.
📊 Technical Analysis Summary
Entry Point: 76
Stop Loss: 72.55
Target Zone: 82.50 – 82.96
MCX trade ideas
MKC McCormick & Company Options Ahead of EarningsAnalyzing the options chain and the chart patterns of MKC McCormick & Company prior to the earnings report this week,
I would consider purchasing the 85usd strike price Calls with
an expiration date of 2024-10-18,
for a premium of approximately $1.45.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Pantry Staples: Macro Fib SchematicsGeneral Mills, Kellogg, Campbell, Hershey, Smuckers, Sysco, McCormick & Company, and ConAgra are a handful of the largest American pantry/snack favorites.
These Fib Schematics look pretty good and are easy to decipher. This makes this a good idea other than the fact that I should have grouped my tow food ideas differently. I have another Food Idea linked below with the rest of the Big Food Players.
MKC McCormick & Company Options Ahead of EarningsAnalyzing the options chain and the chart patterns of MKC McCormick & Company prior to the earnings report this week,
I would consider purchasing the 75usd strike price Calls with
an expiration date of 2023-10-20,
for a premium of approximately $2.53.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
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.