This Stock Just Broke Out Of Its Uptrend

| September 22, 2022

General Mills, Inc. (NYSE: GIS) seems to be poised for a price surge as per its latest charts. The company manufactures and markets branded consumer foods worldwide.

Bullish Indications

#1 Channel Breakout: The daily chart shows that the stock has currently broken out of an uptrend channel. This is a possible bullish indication.

#2 Price above MAs: The price is currently above the short-term moving average of 50-day SMA as well as the longer-term moving average of 200-day SMA, indicating that the bulls are still in control. This is a positive indication.

#3 MACD Above Signal Line: In the daily chart, the MACD line (light blue color) is currently above the MACD signal line (orange color) which is typically considered bullish.

See the other bullish indications and a recommended trade based on the charts.

This post originally appeared at TradesOfTheDay.com.

Category: Options Trading Strategy

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