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Possible Bearish Inside Day Candle Pattern Detected for General Mills In (NYSE:GIS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in General Mills In (NYSE:GIS) based on the price action in the company's shares. Today's price range of $53.83 and $53.95 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of General Mills In may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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 In (NYSE:GIS) is currently priced 6.8% above its average consensus analyst price target of $50.17. The stock should find initial support at its 200-day moving average (MA) of $52.77 and further support at its 50-day MA of $52.73.

Over the past year, General Mills In has traded in a range of $41.42 to $56.40 and is now at $53.85, 30% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend is tracking the current trend status for General Mills In and will alert subscribers who have GIS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle general mills in

Ticker(s): GIS