GIS - Earnings Play | LongGeneral Mills has recently gained support after retracing to key fib levels. Moving sideways and starting to trend up is giving us a buy signal. GIS earnings are on 6/28 - be careful holding through earnings.
G1MI34 trade ideas
Analyst Report: General MillsGeneral Mills is a multinational food company headquartered in Minneapolis, Minnesota. It is a leading player in the global consumer packaged goods industry, primarily focused on the production and marketing of branded food products. The company operates through various segments, including North America Retail, Convenience Stores & Foodservice, Europe & Australia, Asia & Latin America, and Pet.
General Mills is known for its diverse portfolio of well-established and popular consumer brands. Some of its prominent brands include Cheerios, Wheaties, Nature Valley, Pillsbury, Betty Crocker, Yoplait, Häagen-Dazs, Old El Paso, and Progresso. These brands span multiple food categories, including ready-to-eat cereals, snacks, baking products, refrigerated dough, yogurt, frozen meals, and more.
In their most recent earnings report, General Mills demonstrated strong performance despite ongoing supply chain disruptions and market volatility. The company reported a 13% increase in net sales to $5.1 billion, driven by a 16% increase in organic net sales. However, operating profit declined by 10% to $730 million, primarily due to higher selling, general, and administrative expenses. Adjusted operating profit, on the other hand, increased by 20% in constant currency terms.
Key Highlights
Net Sales: General Mills achieved a 13% increase in net sales to $5.1 billion, including a 16% increase in organic net sales. This growth was driven by positive organic net price realization and mix.
Operating Profit: Operating profit declined by 10% to $730 million, reflecting higher selling, general, and administrative expenses, as well as a lower net gain on divestitures. However, constant-currency adjusted operating profit increased by 20% due to higher adjusted gross profit dollars.
Diluted Earnings per Share (EPS): Diluted EPS for the quarter stood at $0.92, down 15% from the prior year. However, adjusted diluted EPS increased by 17% in constant currency terms to $0.97, driven by higher adjusted operating profit and lower net shares outstanding.
Full-Year Outlook: General Mills has raised its full-year fiscal 2023 outlook for key financial measures, indicating confidence in its future performance.
General Mills' Accelerate strategy, aimed at driving sustainable and profitable growth, continues to be executed. The strategy focuses on four pillars: building brands, innovation, leveraging scale, and social responsibility. The company plans to prioritize core markets, global platforms, and local gem brands that have strong potential for profitable growth. Strategic acquisitions and divestitures will be utilized to reshape the portfolio and enhance the company's growth profile.
In summary, General Mills delivered strong results in the third quarter, with significant growth in net sales. Although operating profit declined, adjusted operating profit increased notably. The company's positive performance and visibility for the fourth quarter have led to an upward revision of its full-year fiscal 2023 outlook. General Mills' focus on brand building, innovation, and growth-enhancing capabilities positions it well for future success.
General Mills: Bearish Engulfing with a Shortening of the ThrustGeneral Mills after an amazing Cup with handle performance is now showing a multitude of Bearish Signs such as a Shortening of the Thrust in conjunction with Bearish Divergence of the MACD and RSI and a Bearish Engulfing candle on the Monthly Chart; this all points towards the probability that General Mills will be seeing some significant downside in the coming months as the rush towards Defensives die out.
GIS General Mills Options Ahead Of EarningsIf you haven`t bought my last GIS signal:
Then you should know that looking at the GIS General Mills options chain ahead of earnings , I would buy the $85 strike price Calls with
2024-1-19 expiration date for about
$4.40 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
GIS, another safe entry point at support zoneAfter a months of price falling, at last it landed at EMA200, which can be a very strong support line if we based on the past record.
Similar horizontal support can be recognized at 21Oct22 and 15Nov22.
If we look at RSI Indicator, we can see RSI is forming a cup pattern which is showing over selling momentum is over.
However, for more confirmation, you can wait for price break up $77.87 and set your stop loss at $76.21 where risk controlled within 5%.
Feel free to express your ideas and thoughts in the comment section. Give me a like and share it to your friends if you like my sharing!
GIS - (General Mills) Short OpportunityBased on my strategy, there seems to be a Bearish Divergence on GIS.
Meaning that the price action is making higher highs, but the RSI is making lower highs.
This could be a good time to buy PUTS on GIS with a very tight stop loss.
The idea will be invalidated if the RSI creeps about the dotted line on the chart.
I have marked the support levels on the chart based on which you can plan your trades and exits.
Please do your own research. I'm not a financial advisor.
Trade safely!
GIS , LONG , missed to originally post Hey just wanted to update this position I missed to publish , stopped out twice but still in on the third entry , hopefully we can de risk and turn this into some profit have sure been getting stopped on a lot of de risked positions lately ...
Gave the stop a bit of extra room based on its prior behavior , trying not to get stopped out a third time but that seems to be the theme on recent weeks . Lots of consecutive stop outs .
entry - 74.6 on 28th july
Stop - 72.68
PT 1 - 76.56
PT 2 - 78.56
Is $GIS ready to move higher?Notes:
* Very strong up trend on all time frames
* Great earnings track record
* Breaking out of a base on base pattern of about 4 months
* Has been testing broken resistance of 76.57 as support for the past several sessions
Technicals:
Sector: Consumer Defensive - Packaged Foods
Relative Strength vs. Sector: 7.77
Relative Strength vs. SP500: 1.08
U/D Ratio: 1.33
Base Depth: 16.62%
Distance from breakout buy point: 1.14%
Volume 61.4% above its 15 day avg.
Trade Idea:
* You can enter now as the price is still close to the broken level
* If you want a better entry you can look for one around the 76.57 area as that should continue to serve as support should $GIS continue to range
GIS , LONG Alright well indices sill closed above 21 ema , just but that gives me permission to get back into GIS after the first attempt was quickly stopped out today .
Waited until the aftermarket to see some positive initial signs on qqq/spy futures so that's why my price paid is higher than close .
74.52 in
Stop 72.57
PT1 - 76.54, sell 1/4 stop to half
Pt2 - 78.56 , sell 1/4
General Mills Broke Out. Now It’s Pulled BackGeneral Mills has been a slow mover for years, but the Cheerios maker has gotten more interesting lately.
The main pattern on today’s chart is the June 29 rally above $73. That was not only a new 52-week high. It was also a breakout above the previous all-time peak in July 2016.
Next, consider how GIS pulled back and held the level yesterday. Has old resistance become new support?
Third, stochastics have returned to an oversold condition.
Finally, GIS has now beaten earnings estimates for two straight quarters amid a trend of Americans eating at home to overcome inflation.
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Several Signs Point to Down Turn for GISI like several items for this down turn.
- Topped out on a respected trend line.
- Oversold on the RSI which has acted as a good signal previously.
- Volume profile leads me to think a return to the Point of Control is coming.
R/R is Solid here with a stop at 77 and a profit target of 70.
