Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>GIS stock price is down by 2.22% over the past seven days.</a> </li> 
 <li> <span>2</span> <a>GIS stock price is breaking below the key moving averages showing extreme shorting.</a> </li> 
</ul> 
<p>General Mills stock price is facing strong bearish pressure on the daily technical charts, as it is trading below the 50, 100, and 200-day EMAs. The stock failed to stay above its key resistance levels near the EMAs in the past few weeks, despite several attempts by the buyers.&nbsp;</p> 
<p>The stock is currently trading near $64.82, with a marginal loss of 1.01% in the intraday session. The stock has an upside target of $70, but it needs to overcome the bearish momentum and surge above the 200-day EMA. The stock has a support level of $60, which could prevent further downside.&nbsp;</p> 
<p>General Mills’ price prediction suggests that the stock is in the firm grip of the bears and needs to show some signs of a reversal before confirming a bullish trend. Technical indicators favor the bears projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillators are moving near the overbought zone, whereas the major EMA lines are acting as barrier points for GIS price.</p> 
<p>The company’s performance has been dismal throughout the year. It reported negative returns of -22.43% in the year-to-date period, -21.76% in the last six months, -5.51% last month, and 2.22% in the last week. This shows a persistent bearish trend that has not reversed yet.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-general-mills-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of General Mills Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="455" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-750-1024x455.png" alt="General Mills Stock: Will GIS Stock Drop Below $55 this October?" class="wp-image-170702" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-750-1024x455.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-750-300x133.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-750-768x341.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-750-1536x683.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-750-750x333.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-750-1140x507.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-750.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: General Mills.1D.NYSE by <a href="https://www.tradingview.com/x/rSsHrXUM/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>General Mills stock (NYSE: GIS) is trading under the 50 and 200-day DMAs (daily moving averages), which are not upholding the price trend.&nbsp;</p> 
<p>The current value of RSI is 24.20 points. The 14 SMA is below the median line at 33.15 points indicating that the General Mills stock is bearish.&nbsp; The MACD line at -4.35 and the signal line at -2.99 are below the zero line. The bearish crossover observed in the MACD confirms the bearishness in the GIS <a href="https://www.thecoinrepublic.com/2023/07/12/general-mills-stock-positive-indicators-and-mixed-ratings/" target="_blank" rel="noopener noreferrer nofollow">stock price</a>.</p> 
<h3 class="wp-block-heading" id="strong-weekly-time-horizon-analysis-strong"><strong>Weekly-Time Horizon Analysis</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="456" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-751-1024x456.png" alt="General Mills Stock: Will GIS Stock Drop Below $55 this October?" class="wp-image-170703" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-751-1024x456.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-751-300x134.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-751-768x342.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-751-1536x684.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-751-750x334.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-751-1140x507.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-751.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: Tradingview 
  </figcaption> 
 </figure> 
</div> 
<p>The weekly charts of General Mills stock reveal that the sellers have been dominant. The stock has been on a downtrend; it has broken below the key EMAs. Technical indicators confirm the bearish sentiment, as the RSI is near the oversold zone at 24 and the MACD formed red bars and a bearish crossover. These signals indicate that the stock may face more downside pressure in the coming weeks.</p> 
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3> 
<p><a href="https://www.thecoinrepublic.com/2023/09/23/nikola-stock-defends-1-00-level-will-nkla-stock-reach-2-00/" target="_blank" rel="noopener noreferrer nofollow">General Mills</a> (NYSE: GIS) technical oscillators also support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the GIS stock. General Mills price action suggests that the investors and traders are bearish on the 1-D time frame.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li><strong>Support Levels:</strong> $60.00 and $55.00.</li> 
 <li><strong>Resistance Levels: </strong>$70.13 and $74.06.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

General Mills Stock: Will GIS Stock Drop Below $55 this October?

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