General Mills: An Expected Move Towards And Over The $63.75 Level

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)

General Mills Inc.

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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