During Friday's Mad Money program Jim Cramer told viewers his day-by-day approach to stocks that were reporting earnings this week. Cramer pointed out that Wednesday brings earnings from General Mills Inc. (GIS) , the packaged foods maker with a juicy 3.4% dividend yield and accelerating sales growth.
Let's check out the charts.
In the daily bar chart of GIS, below, we can see that the month of September has been hard. Early in the month prices closed below the 50-day moving average line and below the lows of August. The slope of the 50-day average line is now negative/bearish and prices have declined even further to close below the cresting 200-day moving average line.
The On-Balance-Volume (OBV) line moved sideways during August but has turned lower this month telling us that sellers of GIS are now more aggressive. The trend-following Moving Average Convergence Divergence (MACD) oscillator turned bearish earlier this month when it moved below the zero line.