The charts of consumer foods giant General Mills (GIS) are powering higher. Fundamental sell side analysts are raising their price targets for the company. Let's check on the charts and indicators to see what all the fuss is about.
In this daily bar chart of GIS, below, we can see the bullish price action of the past 12 months. Prices have recently soared higher to make new 52-week highs after a test of the rising 200-day moving average line. Prices are trading above the 50-day moving average line.
The On-Balance-Volume (OBV) has made a new high for the move up and confirms the price gains. The Moving Average Convergence Divergence (MACD) oscillator has just crossed to the upside for an outright buy signal.