General Mills Inc Stock Forecast
General Mills Inc stock upgraded to Buy Candidate.
(Updated on Mar 27, 2024)
The General Mills Inc stock price gained 1.93% on the last trading day (Wednesday, 27th Mar 2024), rising from $68.34 to $69.66. During the last trading day the stock fluctuated 1.83% from a day low at $68.47 to a day high of $69.72. The price has risen in 7 of the last 10 days and is up by 5.5% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 476 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $285.74 million.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $67.62, a level that may pose a second chance to hit a runner. According to fan-theory $71.08 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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GIS Signals & Forecast
Mostly positive signals in the chart today. The General Mills Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $69.01 and $65.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, February 09, 2024, and so far it has risen 11.74%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Monday, March 04, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, March 04, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for General Mills Inc stock
General Mills Inc finds support from accumulated volume at $69.43 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.25 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 1.59%.
The General Mills Inc stock is extremely overbought on RSI14 (79). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $67.28 (-3.42%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (GIS) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect General Mills Inc to open at $69.28, and during the day (based on 14 day Average True Range), to move between $68.28 and $71.04, which gives a possible trading interval of +/-$1.38 (+/-1.98%) up or down from last closing price. If General Mills Inc takes out the full calculated possible swing range there will be an estimated 3.96% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $69.43, some $0.230 (0.33%) from the current price of $69.66, our system finds the risk reward attractive.
Is General Mills Inc stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for General Mills Inc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.348 Buy Candidate Upgraded
Predicted Opening Price for General Mills Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$69.28 ( 0.541%) | $69.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GIS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 70.53 | 1.25 % | |
R2 | 70.06 | 0.568 % | ||
R1 | 69.76 | 0.145 % | ||
Current price: | 69.66 | |||
Support | S1 | 68.81 | -1.23 % | |
S2 | 68.51 | -1.65 % | ||
S3 | 68.03 | -2.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 69.66 | |||
Support | S1 | 69.43 | -0.330% | |
S2 | 64.83 | -6.93% | ||
S3 | 63.15 | -9.35% |
GIS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 30, 2024 | Apr 09, 2024 | May 01, 2024 | $0.590 | 0.85% |
2 | Jan 09, 2024 | Jan 09, 2024 | Feb 01, 2024 | $0.590 | 0.91% |
3 | Sep 26, 2023 | Oct 10, 2023 | Nov 01, 2023 | $0.590 | 0.91% |
4 | Sep 26, 2023 | Oct 06, 2023 | Nov 01, 2023 | $0.590 | 0.91% |
5 | Jun 28, 2023 | Jul 07, 2023 | Aug 01, 2023 | $0.590 | 0.794% |
FAQ
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