By Mill Chart
Last update: Aug 8, 2022
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.
Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.
Overall GIS gets a technical rating of 10 out of 10. Both in the recent history as in the last year, GIS has proven to be a steady performer, scoring decent points in every aspect analyzed.
ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:GIS scores a 8 out of 10:
GIS has an excellent technical rating and 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 76.18. Right above this resistance zone may be a good entry point. Another positive sign is the recent Pocket Pivot signal.
For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.
This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.
More breakout setups can be found in our Breakout analyzer.
GENERAL MILLS INC
NYSE:GIS (4/23/2024, 12:20:24 PM)
71.0998
-0.07 (-0.1%)
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