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4 Trade Ideas for General Mills: Bonus Idea

General Mills, $GIS, comes into the week approaching resistance. Should it continue through it would qualify as a reversal confirmation. It has already triggered a bullish Shark harmonic pattern with a first target to 69.74 and second target to 77.82. It has a RSI at the edge of a move into the bullish zone with the MACD about to turn positive.

The Bollinger Bands® are open to the upside as well. There is resistance at 66.50 and 68 then 69 and 70 before 71.25 and 73 then 74.50. Support lower comes at 65 and 63.50. Short interest is low at 2%. The stock pays a dividend with an annual yield of 3.61% and has traded ex-dividend since October 6th. The company is expected to report earnings next on December 18th.

The November options chain shows biggest open interest at the 65 put strike and then lower at 63 and 62.50. On the call side it is biggest at 65 and 67.50. In the December chain there is little put open interest but bigger amounts on the call side from 65 to 70. Finally, the January 2024 chain has biggest open interest at the 72.50 then 75 put strikes, and from 72.50 to 90 on the call side.

General Mills, Ticker: $GIS

Trade Idea 1: Buy the stock on a move over 66.50 with a stop at 63.50.

Trade Idea 2: Buy the stock on a move over 66.50 and add a November 65/61 Put Spread ($1.00) while selling the December 70 Call (50 cents).

Trade Idea 3: Buy the December/January 70 Call Calendar (80 cents) and sell the December 60 Put (45 cents).

Trade Idea 4: Buy the January 60/67.50/72.50 Call Spread Risk Reversal (50 cents).

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with just 2 trading days left in October and an FOMC meeting next week, saw equity markets pressing to move past a correction to something bigger.

Elsewhere look for Gold to continue its assault on $2000 while Crude Oil consolidates. The US Dollar Index continues to consolidate the move to the upside while US Treasuries continue in their downtrend. The Shanghai Composite looks better lower while Emerging Markets also remain in a downtrend.

The Volatility Index looks to remain at moderate levels but rising making the path easier for equity markets to the downside. Their charts look weak, especially the IWM and the SPY. The QQQ has also changed to looking better lower as the big news of the week. Use this information as you prepare for the coming week and trad’em well.

#$GIS

Dragonfly Capital - 5 Trade Ideas for Monday: Amgen, BlackRock, BP, General Mills and QUALCOMM

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Amgen, Ticker: $AMGN

Amgen, $AMGN, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…..

BlackRock, Ticker: $BLK

BlackRock, $BLK, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

BP, Ticker: $BP

BP, $BP, comes into the week approaching resistance. It has a RSI rising to the bullish zone with the MACD positive. Look for a push over resistance to participate…..

General Mills, Ticker: $GIS

General Mills, $GIS, comes into the week at resistance. It has a RSI rising at the midline with the MACD crossed up. Look for a push over resistance to participate…..

QUALCOMM, Ticker: $QCOM

QUALCOMM, $QCOM, comes into the week at resistance. The RSI is in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

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Elsewhere look for Gold to possibly reverse to the upside out of consolidation while Crude Oil consolidates in the top of a broad range. The US Dollar Index looks to bounce in the downtrend while US Treasuries continue in consolidation. The Shanghai Composite looks to continue the slow drift lower in consolidation while Emerging Markets consolidate in a tightening range.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe both the IWM and QQQ are resetting lower and leading the SPY as they all move back closer to their respective 20 day SMA’s. Use this information as you prepare for the coming week and trad’em well.

#$AMGN #$BLK #$BP #$GIS #$QCOM

4 Trade Ideas for General Mills: Bonus Idea

General Mills, $GIS, comes into the week in consolidation below the 50 day SMA in a small triangle. This came after a gap up and gives a target to 86.40 on a break higher. The price is now back inside the Bollinger Bands® which are open to the upside. The RSI is rising and into the bullish zone with the MACD about to turn positive.

There is resistance at 81.15 and 82.50 then 85.25 and 86.25 before 87.50. Support lower sits at 80 and 78.50 then 77. Short interest is low at 2.4%. The stock pays a dividend with an annual yield of 2.68% and will be trading ex-dividend on April 6th. The company is expected to report earnings next on March 21st.

The March options chain shows biggest open interest at the 75 and 72.50 strikes on the put side, and at the 80 then 75 strikes on the call side. In the April chain the 65 put is biggest open interest while it is spread from 77.50 to 87.50, biggest at 82.50 on the call side. The June chain is biggest at 72.50 then 75 on the put side and at 80 then 72.50 on the call side.

General Mills, Ticker: $GIS

Trade Idea 1: Buy the stock on a move over 81.25 with a stop at 79.50.

Trade Idea 2: Buy the stock on a move over 81.25 and add an April 80/75 Put Spread ($1.60) while also selling the June 87.50 Call ($1.15).

Trade Idea 3: Buy the March/April 82.50 Call Calendar ($1.20) while selling the April 75 Put (85 cents).

Trade Idea 4: Buy the June 75/82.50/87.50 Call Spread Risk Reversal (45 cents).

If you like what you see sign up for more ideas and deeper analysis using this Get Premium link.

After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with only 2 trading days left in February, saw equity markets showed some weakness as they reacted to a less sanguine Fed in their discussion of disinflation.

Elsewhere look for Gold to continue its short term pullback while Crude Oil consolidates in a tight range. The US Dollar Index continues to move to the upside while US Treasuries pullback in consolidation. The Shanghai Composite looks to continue to consolidate under resistance while Emerging Markets continue the move lower.

The Volatility Index looks to remain in the normal range and stable making the path easier for equity markets to the upside. Their charts are showing weakness on both timeframes but remain well above the prior lows, not threatening the nascent uptrends at this point. The SPY and QQ also remain above the falling trendline that acted as resistance through 2022. The IWM trend looks the strongest at this juncture. Use this information as you prepare for the coming week and trad’em well.

#$GIS

5 Trade Ideas for Monday: AbbVie, Costco, GE, General Mills and Johnson & Johnson

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

AbbVie, Ticker: $ABBV

AbbVie, $ABBV, comes into the week breaking short term resistance. The RSI is rising and bullish with the MACD positive. Look for continuation to participate…..

Costco, Ticker: $COST

Costco, $COST, comes into the week at resistance. It has a RSI in the bullish zone and a MACD positive. Look for a push over resistance to participate…..

General Electric, Ticker: $GE

General Electric, $GE, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate….

General Mills, Ticker: $GIS

General Mills, $GIS, comes into the week approaching resistance. The RSI is in the bullish zone with the MACD crossing up. Look for a push over resistance to participate…..

Johnson & Johnson, Ticker: $JNJ

Johnson & Johnson, $JNJ, comes into the week breaking resistance. It has a RSI rising in the bullish zone with the MACD crossing up. Look for continuation to participate….

If you like what you see sign up for more ideas and deeper analysis using this Get Premium link.

After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which heading into the shortened Thanksgiving week and with November Options Expiration in the books, saw equity markets showed continued promise. They held up after a very strong previous week and in the wake of the repercussions following a massive failure in the cryptocurrency space.

Elsewhere look for Gold to continue its short term reversal lower while Crude Oil consolidates in a downtrend. The US Dollar Index continues to pullback in the uptrend while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue the short term uptrend while Emerging Markets experience a stalled bounce in the downtrend.

The Volatility Index looks to continue towards normal levels making the path easier for equity markets to the upside. Their charts look decent on the shorter timeframe with wide paths higher in the SPY and IWM but a consolidation over prior resistance on the QQQ. On the longer timeframe the nascent moves higher are far short of confirming a reversal. Use this information as you prepare for the coming week and trad’em well.

#$ABBV #$COST #$GE #$GIS #$JNJ

5 Trade Ideas for Monday: Abbott Labs, Anthem, General Mills, Lockheed and Zions Bank

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Abbott Laboratories, Ticker: $ABT

Abbott Laboratories, $ABT, comes into the week breaking support. It has a RSI falling in the bearish zone with the MACD negative and dropping. Look for continuation to participate…..

Anthem, Ticker: $ANTM

Anthem, $ANTM, comes into the week testing support after a pullback. The RSI is dropping in the bullish zone with the MACD falling. Look for continuation lower to participate….

General Mills, Ticker: $GIS

General Mills, $GIS, comes into the week pulling back from an all-time high. It has a RSI dropping in the bullish zone with the MACD crossed down. Look for continuation to participate…..

Lockheed Martin, Ticker: $LMT

Lockheed Martin, $LMT, comes into the week pulling back from an all-time high. It has a RSI falling into the bearish zone with the MACD negative and dropping. Look for a break of support to participate…..

Zions Bancorporation, Ticker: $ZION

Zions Bancorporation, $ZION, comes into the week stalling in a bounce. The RSI is falling in the bearish zone with the MACD negative and falling. Look for continuation lower to participate…..

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Elsewhere look for Gold to continue the short term pullback while Crude Oil consolidates in its uptrend. The US Dollar Index continues a strong move higher but is at resistance while US Treasuries continue to trend lower. The Shanghai Composite looks to bounce in its downtrend while Emerging Markets continue to trend lower.

The Volatility Index looks to remain elevated and possibly continuing higher making the path easier for equity markets to the downside. Their charts also look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY could us a reset on momentum measures as both are extended. If that happens it might be time for the IWM to take the lead. Use this information as you prepare for the coming week and trad’em well.

#$ABT #$ANTM #$GIS #$LMT #$ZION

4 Trade Ideas for General Mills: Bonus Idea

General Mills, $GIS, ended Friday pushing over trend resistance that goes back to July 2016. It also moved up over short term resistance and to the May highs. This could trigger a kind of Cup and Handle over 64.50 with a target to 75. The RSI is rising in the bullish zone with the MACD about to cross up after a pullback.

There is resistance at 64.25 and 65.75 then 67 and 67.75 before 69.75 and 71.50 then 72.75. Support lower comes at 63 and 62 then 61.40. Short interest is low at 2.5%. The stock pays a dividend with an annual yield of 3.18% and will start to trade ex-dividend on January 7th. The company is expected to report earnings next on December 21st.

The December options chain shows biggest open interest at the 60 and 62.50 put strikes and at the 65 call. In January, open interest is spread from 42.50 to 62.50 on the put side and builds from 57.50 to a peak at 67.50 on the call side. April options are starting to build open interest on the put side and have some size at the 65 call strike.

General Mills, Ticker: $GIS

Trade Idea 1: Buy the stock on a move over 64.50 with a stop at 62.

Trade Idea 2: Buy the stock on a move over 64.50 and add a January 62.50/57.50 Put Spread ($1.25) while selling the April 70 Call ($1.00).

Trade Idea 3: Buy the December/January 67.50 Call Calendar (85 cents) and sell the January 60 Puts (85 cents).

Trade Idea 4: Buy April 57.50/65/70 Call Spread Risk Reversal ($60 cents).

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Elsewhere look for Gold to consolidate while Crude Oil pulls back. The US Dollar Index continues to trend to the upside while US Treasuries renew their uptrend. The Shanghai Composite looks to consolidate in a broad range while Emerging Markets continue to move lower. The Volatility Index looks to remain elevated making building strong headwinds for equity markets.

Their charts remain mixed with the SPY and QQQ strong on the longer timeframe but with building weakness in pullbacks on the shorter one. The IWM is weak on both timeframes and testing support after a failed break and reversal. It brings to mind the trader adage of “from failed moves come fast moves”. Use this information as you prepare for the coming week and trad’em well.

#$GIS

4 Trade Ideas for General Mills: Bonus Idea

General Mills, $GIS, was in a broad consolidation for 3 months when things got crazy with the COVID-19 virus and the market sank. The stock reacted with a spat of increased volatility, expanding what was a 3 point range to a 13 point range, still around the confluence of flat SMA's. This lasted for 6 weeks until the beginning of April. At that point it started to move higher and continued until settling into a 5 point range in May. It has been in that range since.

Coming into the new week it is at the top of the range with the Bollinger Bands® opening to the upside. It has a RSI rising in the bullish zone and a MACD positive and moving higher. There is resistance at 63.75 and 65 then 70.25 and 72. Support lower comes at 62.40 and 61.10 then 59.25 and 58. Short interest is moderate at 3%. The stock pays a dividend with an annual yield of 3.08% and it started trading ex-dividend July 9th. The company is expected to report earnings next on September 16th.

The July options chain shows open interest spread out on the put side from 40 to 60. On the call side it is focused at 65 and 62.50 with smaller size at 67.50 and 70. In the August chain the 55 put has almost all of the open interest on the put side. On the call side it is spread from 60 to 67.50 biggest at 65. The October chain is the first to cover the earnings report. It has open interest spread from 40 to 52.50 on the put side. The call side is spread from 52.50 to 67.50 and biggest at 62.50.

General Mills, Ticker: $GIS

Trade Idea 1: Buy the stock on a move over 63.75 with a stop at 62.

Trade Idea 2: Buy the stock on a move over 63.75 and add an August 62.50/55 Put Spread ($1.54) while selling an October 70 Call (55 cents).

Trade Idea 3: Buy the August/October 67.50 Call Calendar ($1.08).

Trade Idea 4: Buy the October 55/67.50 bullish Risk Reversal (70 cents).

If you like what you see sign up for more ideas and deeper analysis using this Get Premium link.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates over support. The US Dollar Index continues to drift to the downside while US Treasuries possibly may be resuming their uptrend. The Shanghai Composite looks to continue the drive higher while Emerging Markets also move to the upside.

The Volatility Index looks to remain elevated, but moving lower, making the path easier for equity markets to the upside. Their charts look strong on both timeframes with the exception of the small caps. The QQQ is leading the charge on both timeframes as it seems to set new all-time highs every day. The SPY had a strong finish to the week and looks ready to break higher as well. The IWM however remains stuck in consolidation on both timeframes. Use this information as you prepare for the coming week and trad’em well.

#$GIS