Consumer goods giant General Mills (GIS) recorded an earnings beat and lifted their full-year guidance Wednesday morning when they reported their latest quarterly figures to stockholders.
Let's check out the charts and see how this might change things.
In the daily bar chart of GIS, below, we can see that the shares gapped higher Wednesday but they are currently trading in the middle of the early high/low range. Renewed buying and new highs are likely today. GIS is trading above the flat 50-day moving average line and above the rising 200-day line.
The On-Balance-Volume (OBV) line has maintained a bullish pattern the past year telling us that buyers of GIS are more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator declined to the zero line but is likely to turn upwards to a new outright buy signal.