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Market Insights

Bringing you the trading news around the world.

This Food Stock Broke Out to New Highs. Now It’s Pulled Back

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General Mills has been a slow mover for years, but the Cheerios maker has gotten more interesting lately.

The main pattern on today’s chart is the June 29 rally above $73. That was not only a new 52-week high. It was also a breakout above the previous all-time peak in July 2016.

Next, consider how GIS pulled back and held …

For more, please click here to view the related idea and chart analysis on TradingView.

General Mills (GIS), daily chart with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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