Notes:
* Very strong up trend on all time frames
* Great earnings track record
* Breaking out of a base on base pattern of about 4 months
* Has been testing broken resistance of 76.57 as support for the past several sessions
Technicals:
Sector: Consumer Defensive - Packaged Foods
Relative Strength vs. Sector: 7.77
Relative Strength vs. SP500: 1.08
U/D Ratio: 1.33
Base Depth: 16.62%
Distance from breakout buy point: 1.14%
Volume 61.4% above its 15 day avg.
Trade Idea:
* You can enter now as the price is still close to the broken level
* If you want a better entry you can look for one around the 76.57 area as that should continue to serve as support should $GIS continue to range
* Very strong up trend on all time frames
* Great earnings track record
* Breaking out of a base on base pattern of about 4 months
* Has been testing broken resistance of 76.57 as support for the past several sessions
Technicals:
Sector: Consumer Defensive - Packaged Foods
Relative Strength vs. Sector: 7.77
Relative Strength vs. SP500: 1.08
U/D Ratio: 1.33
Base Depth: 16.62%
Distance from breakout buy point: 1.14%
Volume 61.4% above its 15 day avg.
Trade Idea:
* You can enter now as the price is still close to the broken level
* If you want a better entry you can look for one around the 76.57 area as that should continue to serve as support should $GIS continue to range