Today’s instrument is General Mills Inc.‘s stock traded in the NYSE exchange under the ticker GIS.
When we look at the GIS‘s chart, we see it’s been stuck in a channel for more than a week, with no notable moves, between support of $61.75 level and heavy overhead resistance found at the $63.75 level. It was last found trading at $62.54.
General Mills Inc. has scheduled a quarterly earnings announcement today 23/03/2022. If earnings expectations are surpassed, we could expect the price to move upwards, towards $67.
Today we can expect a move towards and above the $63.75 level, breaking the week’s long resistance with the aid of favorable news.
(Click on image to enlarge)
If however, it doesn’t manage to hold on to the current level then a move close and below the $61.75 support level can be expected.
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