Who is ready for a game day BBQ?
Chartz with Jartz - One of my favorite parts of summer is grilling up some juicy burgers with my dad and watching the New York Yankees play on TV. To make a truly great burger, you need to season it to perfection. Coincidently, we ‘seasoned’ our GAME DAY Stock Allocation with McCormick & Co. (MKC) adding the position on May 6th. MKC produces and distributes spices, seasonings mixes and condiments to many of the grocery stores where you may already shop, and if you open your spice cabinet, you will more than likely see some of their products. Since the security was purchased, we have seen a price consolidation on the 20 Day Moving Average line (Green). On multiple trading days, the price oscillated below the 20 Day, however, it bounced off and never broke below the 50 Day Moving Average line (Blue). This consolidation lends to the possibility that the chart pattern is gathering itself for a breakout move. It is impossible to guarantee if the movement will be up or down, however, with the previous movement into the consolidation being the price movement up from $81.27 back in March, and other factors being favorable such as the Moving Average Convergence and Divergence (MACD) Line coming together above zero, the chart is set to possibly make a favorable move upward in the future.