McCormick & Co. ( MKC) is known for its spices and seasonings. We probably can't live without it unless you really like or need bland food. Despite the need to "kick up" the charts of MKC are pointed lower after earnings were posted Thursday morning.
Let's check out the charts before our next trip to the spice aisle in the supermarket. 
In the daily bar chart of MKC, below, we can see that the stock rallied this Thursday morning on a "so so" earnings report where the company posted in-line numbers and reaffirmed their guidance, but te shares have retreated from those early gains. MKC topped out back in February-March-April and has declined in the subsequent months. MKC trades below the declining 50-day moving average line and below the declining 200-day line.
The daily On-Balance-Volume (OBV) line shows a decline from April. The Moving Average Convergence Divergence (MACD) oscillator is bearish but could signal a cover shorts buy signal in the days ahead.
In the weekly Japanese candlestick chart of MKC, below, we can see a bearish setup. Prices are in a longer-term decline as prices trade below the declining 40-week moving average line. The two most recent candles are a potential harami pattern but I doubt we will see bullish confirmation.
The weekly OBV line is weak and the MACD oscillator is bearish.
In this daily Point and Figure chart of MKC, below, we can see a downside price target of $71.
In this weekly Point and Figure chart of MKC, below, we can see a potential price target in the $63 area.
Bottom-line strategy: Traders could pick up some spices they need at the nearby supermarket but they should avoid the long side of the stock.
(MKC is a holding in the Action Alerts PLUS member club . Want to be alerted before AAP buys or sells MKC? Learn more now. )
