GIS shows a bullish technical rotation from downtrend to uptrend with confirmed follow-through above the 200-day MA and strong momentum.
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All right. The other chart I wanted to highlight uh in the um uh consumer staple sector is uh General Mills. This reminds me of the chart of FDS, FACTA. This is General Mills GIS.
Obviously making like breakfast cereal and and uh and and those sorts of uh staples uh in your pantry.
I think similar to what we've talked about with other charts, just a fantastic rotation from a downtrend phase to an uptrend phase. Most recently, there's a bit of a choppy uh period here in July into early August.
You probably label that as like a flag pattern, I would say, but we broke above a trend line. If you draw a trend line just from these short-term highs here, we broke above there in uh second week in August and then pull back off of the 200 day and then followed above it.
So, this is classic action right around the 200 day moving average when we're below it, right? We we test it and pull back. We break above it and then pull back and that previous resistance becomes support and now we follow through to the upside.
So, I think a chart like this has now demonstrated follow-through. Look at the momentum, right? consistently the RSI below 50 in March, April, May as we're in a primary downtrend.
We then flip. We're making higher highs and the RSI generally above 50 for the last 3 months. So I think that rotation from distribution to accumulation pretty impressive.
By the way, this is a pretty high yielding name. GIS has a, you know, estimated dividend yield just below 6%. So it means it has a decent dividend component and we've got capital appreciation which is good as well.
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