GENERAL MILLS INC (NYSE:GIS) Reveals Intriguing Technical Aspects. Here's What You Need to Know.

Our stock screener has spotted GENERAL MILLS INC (NYSE:GIS) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:GIS.

What is the technical picture of NYSE:GIS telling us.

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, GIS scores 8 out of 10 in our technical rating. Although GIS is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long and short term trends are both positive. This is looking good!
• GIS is part of the Food Products industry. There are 91 other stocks in this industry. GIS outperforms 71% of them.
• GIS is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so GIS is lagging the market slightly.
• In the last month GIS has a been trading in the 65.56 - 71.08 range, which is quite wide. It is currently trading near the high of this range.
• When compared to the yearly performance of all other stocks, GIS outperforms 43% of them, which is more or less in line with the market.

Our latest full technical report of GIS contains the most current technical analsysis.

Looking at the Setup

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:GIS currently has a 9 as setup rating:

Besides having an excellent technical rating, GIS also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 71.24. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 70.56, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade NYSE:GIS?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Of course, there are many ways to trade or not trade NYSE:GIS and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.