General Mills, Inc. | GIS

AI Analysis of General Mills, Inc.

General Mills is up a bit on the day, funds flowing in kept the price up 2.04% since yesterday. It looks like GIS may be interacting with a downward sloping resistance line. This may be an opportunity to short sell. In addition to being near an angled resistance line GIS is near a weak resistance line. If there isn't strong buying pressure the price might bounce off and move back down, but it can always break through and move up. When considering momentum, General Mills has been pretty beaten down over the last 12 month, there's a lot of buyers out there sitting on losses who might be ready to sell into any upside that comes. Hitting a double resistance line might make a good opportunity for a technical short sell. Since one year back, buyers of the Consumer Packaged Goods company have hemorrhaged cash and are currently down -36.96 percent, well any that are still holding on for dear life are. It looks like GIS may be interacting with a downward sloping Support line. It may find or support at this level or it's momentum can continue downward. It's definitely important to take into account the directional momentum, so let's be honest General Mills has looked terrible. Buyers haven't seemed that interested, sellers keep dumping, there's been a lot of better places to put your money. It doesn't make me feel that optimistic about getting a solid bounce off of a line like this. If you do get one, I'd move your stop losses up with it. Owners of the Consumer Packaged Goods company have lost -36.96 percent over the last year. If the price moves back up it'll probably hit pockets of sellers who want to break even and exit the position.

If it breaks through the resistance level, we aren't seeing any clear resistance points beyond that. So it may have plenty of room to work up from there. If the price does in fact bounce off here, it might find nearest support down at the $32.81 level, hard to say where it will go from there though.