General Mills (GIS) – Bearish DailyPlay for Wednesday May 23rd, 2018
The bearish DailyPlay we chose for Wednesday, May 23rd is General Mills (GIS). GIS is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 1.53% move lower and its 1m and 6m trend turned bearish yesterday and recently bounced lower off its $50 resistance level.
General Mills’ 1m and 6m trends turned bearish on 4/18 and recently bounced lower off its $44 resistance level. With a technical score of 1 (out of 10), GIS is a weak stock that will likely trend lower.
As a stop loss, if GIS was to trade above $44 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
DailyPlay Performance: 67% Winners – 85% Average Profitable Trade View Performance Metrics!