Banner

GIS is an interesting stock to watch as it has the potential to break out to all time highs.  GIS has been trending upwards for a while now and has failed to get above 40.75 during the last few weeks.  This level represents an all time high so one expects resistance at this level.  The question becomes can GIS break out of this resistance level because if it does there is lots of air above it- as its an all time will no resistance above it.  Currently there is support at 40 and it has been range bound the last two weeks. 

GIS hit 40.75 last week and retraced back down to 40 and now looks to be setting up for another run at the highs.  The more a resistance level is hit the weaker it becomes. If GIS can get back up tot this level it might have a chance to break out.

General Mills GIS

 

GIS WEEKLY CHART

General Mills GIS

Read more http://www.pikertrader.com/main-page/2012/1/12/general-mills-gis.html

                       

small-logoOur Featured  Bloggers represents some of the most in-depth and thought-provoking traders on the web. From Elliot Wave theory and forecasts to swing-trading strategies, and others simply showing you how to trade. You will find numerous options strategies and technical analysis on various equities, ETF's, indices, and futures as there is not shortage of material being offered by these seasoned traders.

Get Ryan's Top Six Trade Setups for Profitable Trading eBook for Free!

twitterfacebookbuttonsrss feedyoutubeemail


enter-the-shareplanner-splash-zone

part-time trader 300x250


Splash Zone Banner for Day-Trading Live Stream Top

SharePlanner Academy

SharePlanner Investment System