This bear market has been a grind on every sector. Food product companies are trying to manage their business around higher inflation and a slowing economy. Given those challenges, the consumer is not all that bad just yet as the jobs market is robust. Even so, we may not see couples and families eating out as much, which would be good for a diversified brand such as spice maker McCormick & Co. (MKC) .
The weekly chart below from TrendSpider shows McCormick is stuck in a range. No doubt the indicators are pointed lower, as the stock had a rough day last week on some heavy selling volume. Still, we think this name could snap right back up toward $100 before too long.
https://share.trendspider.com/chart/MKC/4669k17zoc
The daily chart (Chaikin, blue) shows the resistance a bit lower, around $97 or so. The relative strength is very good versus the S&P 500, but we see money flow has slipped a bit.
We'll be watching developments here, but we like adding to this stock under $95 when given the chance, as we did on Monday.