GIS has a strong wedge setup here. Looking at previous trends, price has bounced off the Lower Trendline twice in the past. GIS could be due for yet another bounce off the Lower Trendline. I will watch around that $48-$40 range for a possible breakout, especially with earnings coming up.
Based on the chart patterns, I would be bearish if price falls below that $37 range. Whereas, anything above that $56 we’re probably in for a decent price increase.
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Based on the chart patterns, I would be bearish if price falls below that $37 range. Whereas, anything above that $56 we’re probably in for a decent price increase.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.