Hey just wanted to update this position I missed to publish , stopped out twice but still in on the third entry , hopefully we can de risk and turn this into some profit have sure been getting stopped on a lot of de risked positions lately ...
Gave the stop a bit of extra room based on its prior behavior , trying not to get stopped out a third time but that...
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:...
Alright well indices sill closed above 21 ema , just but that gives me permission to get back into GIS after the first attempt was quickly stopped out today .
Waited until the aftermarket to see some positive initial signs on qqq/spy futures so that's why my price paid is higher than close .
74.52 in
Stop 72.57
PT1 - 76.54, sell 1/4 stop to half
Pt2 - 78.56 ,...
Sure a clean move so far , but lacking volume, bit of a wick at top too but nice recovery before the close . Close to its GLB and trading above .
Stop - 73.07
PT 1- 75.37 , sell 1/4 stop to half
PT2 - 76.52 , sell 1/4 stop same
General Mills has been a slow mover for years, but the Cheerios maker has gotten more interesting lately.
The main pattern on today’s chart is the June 29 rally above $73. That was not only a new 52-week high. It was also a breakout above the previous all-time peak in July 2016.
Next, consider how GIS pulled back and held the level yesterday. Has old resistance...
I like several items for this down turn.
- Topped out on a respected trend line.
- Oversold on the RSI which has acted as a good signal previously.
- Volume profile leads me to think a return to the Point of Control is coming.
R/R is Solid here with a stop at 77 and a profit target of 70.
Short (Entry Price) below the black line and exit (Stop Loss) above the red line. Can take profit at the suggested Target Price.
Entry Price: $68.23
Target Price: $67.20
Stop Loss: $69.26
Buy (Entry Price) within the buy zone area and exit (Stop Loss) below the red line. Can take profit at the suggested Target Price.
Entry Price: $72.65 / $72.27
Target Price: $73.34 / $73.04
Stop Loss: $71.50
The PEAD projected a Bullish outlook for $GIS after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 62.5%.
SLB 2H I Bull flag on SLB. It develops technology and systems for drilling, production and processing oil and gas. Bullish activity picked up on SLB $45c 04/14 @ $0.63.
GIS 1D I Bull flag on the daily and MACD going bullish as well. Above average volume coming on the past few days. Keep on watch given recent supply chain issues.
CHWY 1D I We have a double bottom...
Is GIS part of the global Supply Crunch? After several months our GIS retail play is holding up nicely but will they crush earnings? It seems they're poised to knock this out the park on 12 21, but anything could happen. Please DYOR before jumping in to GIS, read their prospectus & recent SEC filings, so there are no surprises. Full disclosure considering cutting...
I read some stuff on social media bashing General Mills about price increases. While I don't agree with corporate greed, rising prices and outlandish CEO pay, I also don't agree with sitting back & doing nothing. I don't have all the answers but I did get into supply side trades last year. I wont give away all the details, but not buying the obvious things that...
