The bearish DailyPlay we chose for Wednesday, May 23rd is General Mills (GIS). GIS is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 1.53% move lower and its 1m and 6m trend turned bearish yesterday and recently bounced lower off its $50 resistance level.
General Mills’ 1m and 6m trends turned bearish on 4/18 and recently bounced lower off its $44 resistance level. With a technical score of 1 (out of 10), GIS is a weak stock that will likely trend lower.
As a stop loss, if GIS was to trade above $44 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
DailyPlay Performance: 67% Winners – 85% Average Profitable Trade View Performance Metrics!