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General Mills Looks to Continue to Trade Above its Annual-High Share Price Today

By Amy Schwartz

Shares of General Mills (NYSE:GIS) traded today at $66.79, breaking its 52-week high. This new high was reached on below average trading volume as 380,000 shares traded hands, while the average 30-day volume is approximately 3.8 million shares.

General Mills, Inc. manufactures and markets branded and packaged consumer foods worldwide. The Company also supplies branded and unbranded food products to the foodservice and commercial baking industries.

General Mills (NYSE:GIS) defies analysts with a current price ($66.46) 12.4% above its average consensus price target of $58.20. General Mills shares have support at the 50-day moving average (MA) of $61.61 and additional support at the 200-day MA of $58.27.

In the past 52 weeks, General Mills share prices have been bracketed by a low of $47.43 and a high of $66.79 and are now at $66.46, 40% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of General Mills on May 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $63.26. Since that recommendation, shares of General Mills have risen 5.1%. We continue to monitor GIS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows General Mills

Ticker(s): GIS