In Friday's "Mad Money", Jim Cramer looked at stocks set to report this week. Cramer pointed out that General Mills (GIS) -- which reports on Wednesday -- has shares up 40% for the year. At those levels, Cramer said he would rather own Mondelez International (MDLZ) or PepsiCo (PEP) .
Let's check the charts of GIS to see if there is a risk level we should watch.
In this daily bar chart of GIS, below, we can see that the price of GIS has moved nicely higher from its December nadir. Prices are above the rising 50-day moving average line as well as the bullish 200-day line.
The daily On-Balance-Volume OBV line shows a low in late December and a rise to a slight new high this month.
The Moving Average Convergence Divergence (MACD) oscillator recently reversed from bearish to bullish.
In this weekly bar chart of GIS, below, we see a mixed picture. Prices are above the rising 40-week moving average line but there is a band of resistance above in the $55-$60 area.
The weekly OBV line is leading the way as it has made a new high breaking the 2018 high.
The weekly MACD oscillator shows the two moving averages right on top of each other so we could be a bearish or a bullish crossover from here.
In this Point and Figure chart of GIS, below, we can see an upside price target of $65 projected.
Bottom line strategy: The indicators on GIS are mixed -- there is overhead resistance but there is a $65 Point and Figure target. Traders could approach the long side of GIS, but only if they use a sell stop below $51.