For today's chart we've chosen to take a look at General Mills Inc (NYSE:GIS) because it has recently bounced off the combined support of an ascending trendline and its 200-day moving average (pink line). As you can see from the chart below, each of the mentioned support levels has historically been able to prevent a move lower and many traders will keep a close eye on this stock to see if this story will continue. Most bullish traders would likely choose to set their stop-loss orders below the $57.50 mark because a break below this level would be a technical signal of a shift in the longer-term trend.

We've also added the MACD indicator because it has recently crossed above its signal line. This bullish crossover could be used to confirm the strength of the nearby support and that the uptrend will likely continue.





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