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Watch for Continued Gains in Shares of General Mills (GIS)

By Shiri Gupta

General Mills (NYSE:GIS) traded today at a new 52-week high of $66.31. Approximately 327,000 shares have changed hands today, as compared to an average 30-day volume of 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) is currently priced 12.2% above its average consensus analyst price target of $58.20. The stock should discover initial support at its 50-day moving average (MA) of $61.61 and subsequent support at its 200-day MA of $58.27.

General Mills share prices have moved between a 52-week high of $66.31 and a 52-week low of $47.43 and are now trading 40% above that low price at $66.28 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.4%.

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 4.0%. 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