General Mills pierces pivotal resistance - Analysis - 30-06-2022

General Mills' stock (GIS) rose in the last session, becoming one of the highest earners on the S&P 500, after reporting forecast-beating results for the fourth quarter of the financial year despite inflation and supply challenges, with the stock rallying 6.35%, or 4.46 points, settling at 74.72, with trading volumes surpassing 10.6 million shares, above 10-day averages of 4.5 million shares. 

The stock pierced the pivotal resistance of 73.80, amid the dominance of the main upward short-term trend, with positive support from the 50-day SMA, countered by negative signals from the RSI, after reaching overbought levels. 

Therefore we expect more gains for the stock, targeting the resistance of 79.60, provided it settles above 73.80. 

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Expected trend for today: Bullish