Sellers in Control - General Mills
Published on Tuesday, 24 April 2012 11:38 Written by TradersHuddle Wire
New York, April 24th (TradersHuddle.com) - Unusual high volume detected on shares of General Mills, Inc. (NYSE:GIS) early in the trading session. The pace in volume of General Mills is already above average, with sellers in control, as the stock is 0.85% lower.
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 1.027 times its 3-month average volume and has calculated support and resistance at $38.52 and $40.80 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.
The overall market index S&P 500 is trading higher by 0.6% from its previous trading close, which means that General Mills stock is underperforming the overall market.
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