General Mills Continues With Bullish Momentum

general mills weeklyGeneral Mills is one stock I have been writing about recently, and as I outlined in my post of the 18th March, prior to earnings, the stock was testing a key level of resistance in the $48 area, and if breached this would open the way to the development of the trend higher. This has certainly been the case with last week’s price candle ending with a wide spread with no wicks, and a breach of the $50 price point, so it has been no surprise to see this positive sentiment continue in the early part of the week. The next key level is now approaching fast at $53 and provided we see rising volume associated with rising prices, the stock looks set to hit the $57 price point in due course. The trend monitor also supports this bullish perspective having transitioned to blue in early February.