Trading idea for General Mills, Inc. (NYSE)

General Mills, Inc. (NYSE)

#GIS

The trend is upward. The stock is trading within the range defined by the 365-period and 135-period moving averages. The downward wave pattern is truncated. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator indicates an oversold condition.

Trading Idea:

Enter a long position upon the formation of an upward wave pattern, where wave (A) breaks through the trendline (inclined channel) of the truncated downward pattern.

Place a stop-loss order below the local low of the truncated downward pattern.

Target levels: 34.80; 36.50.