Long-term Stock Chart in Focus: General Mills
General Mills (NYSE: GIS) Chart
General Mills (GIS) beat earnings and revenue estimates with adjusted quarterly profits of 79 cents per share (78 cents expected). Stock prices fell sharply, however, as General Mills lowered its adjusted earnings growth forecast (to a range of 0% to 1%). The company’s previous forecasts called for much higher gains (within a range of 3% to 4%). Increased cost pressures were cited by the company as the cause for decline, and this is a bit ironic (or problematic) given the fact that prices could rise further as a result of heightened trade tariff talks.
Fundamentally, this puts the company at risk – and those risks look to be making themselves apparent on the technical charts.