Earnings Play General Mills
General Mills' earnings release is expected on Wednesday. Here is what to look out for.
Share this:
On Wednesday, before market, General Mills (GIS) is expected to report fourth quarter EPS of $1.06 compared to $0.83 a year ago on revenue of approximately $5.0B vs. $4.2B last year. The company operates a global packaged food business and its current analyst consensus rating is 6 buys, 11 holds and 3 sells, according to Bloomberg.
Looking at a daily chart, General Mills stock price has been declining inside of a symmetrical triangle pattern that began to form in early to mid-May. The RSI has been falling since late-April and is currently sitting on the 50 level. The 20-day moving average appears to be on a path to cross below the 50-day moving average in the near future. Even though the chart looks like it is setting up for a downward move, the symmetrical triangle is actually a bullish pattern. Price is expected to hold above the lower trend line before rising to break above the upper trend line. Price will likely rally towards the 2020 high of $64.00. If price reaches the $64.00 level we could see a push onward to make new yearly highs given the volatility in the market. If price cannot hold above the lower trend line around the $59.00 support level then price will likely continue to fall to the $55.00 level.
Source: GAIN Capital, TradingView
Looking at a daily chart, General Mills stock price has been declining inside of a symmetrical triangle pattern that began to form in early to mid-May. The RSI has been falling since late-April and is currently sitting on the 50 level. The 20-day moving average appears to be on a path to cross below the 50-day moving average in the near future. Even though the chart looks like it is setting up for a downward move, the symmetrical triangle is actually a bullish pattern. Price is expected to hold above the lower trend line before rising to break above the upper trend line. Price will likely rally towards the 2020 high of $64.00. If price reaches the $64.00 level we could see a push onward to make new yearly highs given the volatility in the market. If price cannot hold above the lower trend line around the $59.00 support level then price will likely continue to fall to the $55.00 level.
Source: GAIN Capital, TradingView
On Wednesday, before market, General Mills (GIS) is expected to report fourth quarter EPS of $1.06 compared to $0.83 a year ago on revenue of approximately $5.0B vs. $4.2B last year. The company operates a global packaged food business and its current analyst consensus rating is 6 buys, 11 holds and 3 sells, according to Bloomberg.
Looking at a daily chart, General Mills stock price has been declining inside of a symmetrical triangle pattern that began to form in early to mid-May. The RSI has been falling since late-April and is currently sitting on the 50 level. The 20-day moving average appears to be on a path to cross below the 50-day moving average in the near future. Even though the chart looks like it is setting up for a downward move, the symmetrical triangle is actually a bullish pattern. Price is expected to hold above the lower trend line before rising to break above the upper trend line. Price will likely rally towards the 2020 high of $64.00. If price reaches the $64.00 level we could see a push onward to make new yearly highs given the volatility in the market. If price cannot hold above the lower trend line around the $59.00 support level then price will likely continue to fall to the $55.00 level.
Source: GAIN Capital, TradingView
Looking at a daily chart, General Mills stock price has been declining inside of a symmetrical triangle pattern that began to form in early to mid-May. The RSI has been falling since late-April and is currently sitting on the 50 level. The 20-day moving average appears to be on a path to cross below the 50-day moving average in the near future. Even though the chart looks like it is setting up for a downward move, the symmetrical triangle is actually a bullish pattern. Price is expected to hold above the lower trend line before rising to break above the upper trend line. Price will likely rally towards the 2020 high of $64.00. If price reaches the $64.00 level we could see a push onward to make new yearly highs given the volatility in the market. If price cannot hold above the lower trend line around the $59.00 support level then price will likely continue to fall to the $55.00 level.
Source: GAIN Capital, TradingView
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
S&P 500, Nasdaq, Dow Forecast: Rising Yields Test Rally Ahead of Nvidia, Fed 8 22 2026
S&P 500, Nasdaq and Dow test key technical levels as momentum fades, raising the risk of a deeper correction heading into a pivotal week.
GBP/USD, Dow Jones Forecast: Key Technical Scenarios to Watch
GBP/USD and the Dow Jones are approaching critical technical levels amid earning optimism, Fed rate hike expectations, US-Iran developments, and persistent geopolitical risks.
The U.S. Dollar Is Rising Again and Nasdaq Is Feeling It
Nasdaq, the U.S. Dollar Index and Federal Reserve expectations are driving market sentiment ahead of a pivotal FOMC meeting. Razan Hilal, StoneX Market Analyst, explains how rising expectations for a hawkish Federal Reserve, persistent U.S.-Iran tensions and key technical levels on the U.S. Dollar Index could influence currencies, equities and precious metals in the weeks ahead.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.