Account

New to ADSS? Open an
account now to get started.

OR

Already have an account?

Add funds to your ADSS account

Account

New to ADSS? Open an
account now to get started.

Add funds to your ADSS account

Trends & Analysis
News

Week Ahead Preview: 17th of February

News

Europe stocks hit record high on strong earnings

News

BRIC currencies mostly gain as US inflation rises

News

Refresh your portfolio with Coca-Cola?

News

GBP/USD price may rally to multi-week high

News

EIA ups oil output forecast, but supply fears loom

Trends & Analysis
News

Week Ahead Preview: 17th of February

News

Europe stocks hit record high on strong earnings

News

BRIC currencies mostly gain as US inflation rises

News

Refresh your portfolio with Coca-Cola?

News

GBP/USD price may rally to multi-week high

News

EIA ups oil output forecast, but supply fears loom

Asset Watch

Should you add General Mills to your grocery list?

Tuesday, July 11, 2023

With an uprising in bond yields creating some angst among investors, the S&P 500 recorded another weekly decline. Yet, while the index’s drawdown has been relatively mild, individual stocks have felt more pain.

 

General Mills ended the Jul. 7 session down by 17% from its 2023 closing high. And with prior pullbacks creating opportunities for the optimists, could the Cheerios maker reward the bulls once again?

 

General Mills has been in a long-term uptrend since late 2018, as higher highs and higher lows have been present for most of the run. The consumer foods giant’s 100-week moving average has acted as reliable support and resistance. In early 2018, a rally ended near the 100-week MA, and after a breakout in March 2019, it’s been a key support level. With the milestone only 1.96% below the Jul. 7 close, we could soon witness another iteration.

On top of that, the multinational food manufacturer’s rising support line drawn from the 2018 lows (the grey line) has been another source of support throughout the uptrend, and it almost perfectly aligns with the 100-week MA.

Finally, General Mills’ weekly RSI (the black line at the bottom) has fallen to its lowest level since the 2018 nadir. Because of this, the stock hasn’t been more oversold on a weekly basis in more than four years.

So, is it time to munch on General Mills, or is the stock approaching its expiration date?


Site by Pink Green
© ADSS 2025


Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.

ADS Securities LLC – S.P.C (“ADSS”) is authorised and regulated by the Securities and Commodities Authority (“SCA”) in the United Arab Emirates under First Category: Dealing in Securities and Fifth category: Arrangement and advice (Introduction). ADSS is a Limited Liability Company – Sole Proprietorship Company incorporated under United Arab Emirates law. The company is registered with the Department of Economic Development of Abu Dhabi (No. 1190047) and has its principal place of business at 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.

The information presented is not directed at residents of any particular country outside the United Arab Emirates and is not intended for distribution to, or use by, any person in any country where the distribution or use is contrary to local law or regulation.

ADSS is an execution only service provider and does not provide advice. ADSS may publish general market commentary from time to time. Where it does, the material published does not constitute advice, or a solicitation, or a recommendation to a transaction in any financial instrument. ADSS accepts no responsibility for any use of the content presented and any consequences of that use. No representation or warranty is given as to the completeness of this information. Anyone acting on the information provided does so at their own risk.