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General Mills Bearish Moving Average Crossover Alert (GIS)

By James Quinn

Today, shares of General Mills (NYSE:GIS) have crossed bearishly below their 10-day moving average of $56.50 on a volume of 1.2 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, General Mills has traded in a range of $47.43 to $72.95 and is now at $56.28, 19% above that low. The 200-day and 50-day moving averages have moved 0.17% higher and 0.42% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of General Mills on January 10th, 2017 by issuing a Downtrend alert when the shares were trading at $60.50. Since that call, shares of General Mills have fallen 5.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses General Mills

Ticker(s): GIS