General Mills continues with bullish momentum

general mills weeklyGeneral Mills is one stock I have been writing about recently, and as I outlined in my post of the 18th March, ( https://www.annacoulling.com/stock-trader-tips/gis-now-testing-a-key-price-level-ahead-of-earnings/) prior to earnings, the stock was testing a key level of resistance in the $48 area, and if breached this would open the way to the development of the trend higher. This has certainly been the case with last week’s price candle ending with a wide spread with no wicks, and a breach of the $50 price point, so it has been no surprise to see this positive sentiment continue in the early part of the week. The next key level is now approaching fast at $53 and provided we see rising volume associated with rising prices, the stock looks set to hit the $57 price point in due course. The trend monitor also supports this bullish perspective having transitioned to blue in early February.

By Anna Coulling

Charts from NinjaTrader and indicators from Quantum Trading

About Anna 2016 Articles
Hi – my name is Anna Coulling and I am a full time currency, commodities and equities trader. I have been involved in both trading and investing for over fifteen years and have traded many different financial instruments, from options and futures to stocks and commodities. I write and publish articles ( mostly for free ) for UK and international publications on a wide variety of financial issues, and in particular I enjoy helping others learn how to invest and trade.

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