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Play of the Day (For Friday)
Interactive Chart
Thursday, April 26, 2001

MKC - McCormick & Company $40.89 +0.33 (-0.31)

Thursday's Comment:

McCormick & Company is starting to make a recovery after hitting a 30-day low of $40 earlier this week. On Thursday, shares of MKC traded to an intra-day high of $41.63 before running into resistance at the 20-dma. The stock ended the session at $40.89 on volume of 135,000 shares. MKC has tested major support at the 50- dma and it has broken the downward trend with two higher lows. However, volume has been on the light side, so MKC may be stuck in the $40-43 range until the volume picks up. The company is scheduled to appear at the Goldman Sachs Global Beverage, Food, and Tobacco Conference on May 9th, which could lead to better volume in the near future. For now, support is the 50-dma at $40.57 with stronger support at Wednesday's intra-day low of $40.25. Resistance is the 10-dma at $41.12 and then Thursday's intra-day high of $41.63. A bounce off of $40.57 or a move above $41.12 on midday volume of at least 75,000 shares may be possible entry points. We are leaving our stops at $38.75 to limit potential losses.

Picked on March 29th @ $41.43
Change since picked -0.54
Stop Loss @ $38.75

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