After Yesterday's Rally of 1.07% Shares Could Potentially Pullback
General Mills (NYSE:GIS) traded in a range yesterday that spanned from a low of $70.76 to a high of $71.96. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $71.82 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of General Mills have traded between a low of $47.43 and a high of $72.95 and are now at $71.66, which is 51% above that low price. 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 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 12.2%. We continue to monitor GIS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders General Mills