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Downtrend Broken Resist.Archive
- 5/10/2024 -
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General Mills (GIS) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week for the General Mills (GIS). During the week, the GIS gained 0.80 points, or 1.14%, and closed at 70.70 on Friday, May 10, 2024. Weekly volume was -34% below average.
 Long-term trend: [See GIS long-term trend chart]
A long-term downtrend had started on May 15, 2023 at 90.89 and reached 60.33 on October 6, 2023. GIS lost 30.56 points, or 33.62%, in 20 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (62.26) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See GIS medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 60.33 and reached 74.45 on March 20, 2024. GIS gained -14.12 points, or -23.40%, in 23 weeks. The price is now at the 26.56% retracement level.
 Weekly Technical Indicators: [See GIS weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See GIS short-term trend chart]
A short-term uptrend had started on April 12, 2024 at 66.11 and reached 72.32 on April 25, 2024. GIS gained -6.21 points, or -9.39%, in 13 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See GIS daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 30, 2024. The distance between MACD and the signal line is low, but getting bigger.
A Parabolic SAR (stop and reversal) indicator (70.98) comes close to the price (70.70). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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