Seek Shelter in General Mills?
General Mills (GIS) is one of the few stocks offering refuge from the decline in the broader market. Yesterday, the 200-day moving average was tested and held and today the stock price is moving above its 50-day moving average.
GIS has been trading in a large rising channel since August of 2010. Tests of channel support have coincided with the reversion of the 50-day average to the 200-day average and overbought and oversold readings on the stochastics indicator. But last February's low saw an oversold stochastic reading and a test of the 200-day average, but did not test lower channel support. The green dashed line is a regression line, or best-fit straight line of price within the channel, and will have to be recaptured to affirm the continued strength of the trend....156 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.
