High Above Average Volume on General Mills

Published on Wednesday, 30 June 2010 11:39 Written by Christian Paolinetti

New York, June 30th (TradersHuddle.com) - Unusual high volume detected on shares of General Mills, Inc. (NYSE:GIS), early in the trading session. General Mills is currently trading lower by 3.66%, so definitely the sellers in control, as the stock's volume is already above average.

General Mills, Inc. (NYSE:GIS) manufactures and markets branded and packaged consumer foods. The Company also supplies branded and unbranded food products to the foodservice and commercial baking industries.General Mills offers its products under the Cheerios, Wheaties, Pillsbury, Haagen Dazs, Green Giant, and Progresso brands among others.

General Mills has already traded 1.002 times its 3-month average volume, and has calculated support and resistance at $36.90 and $36.90 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading higher by 0.36% from its previous trading close, which means that General Mills stock is underperforming the overall market.