EarningsBeats.com Digest for July 6, 2020
|
Trading Places Live!
Join Tom Bowley for a briefing on market activity on Mondays and Wednesdays from 9-9:30 am EST before the opening bell. Click here to listen live or visit our YouTube page later today to view the recorded session.
Dear Digest Subscriber,
It's Webinar Day!
You won't want to miss today's webinar at 4:30pm eastern, "Mid Year Market Update," featuring EarningsBeats.com's Chief Market Strategist Tom Bowley. This is a members only event which includes those who are trial members. So if you are currently NOT an EarningsBeats.com member and want to learn more about the event and how you can sign up for a NO COST trial, just click below.
A Trade Possibility For Those With A Defensive Appetite
I get it, it's hard to pull the trigger on stocks that have been going up relentlessly, day
after day. But not every leader has been going up every day. Food products ($DJUSFP) hasn't exactly been one of the best industry groups as it has struggled to break out of its recent consolidation zone. But General Mills (GIS) is a solid stock within that group and is consolidating in bullish fashion:
After a scorching move higher from late-March to mid-May, GIS has consolidated in a bullish symmetrical triangle. These patterns tend to break in the direction of the prior trend, which is clearly higher. A move through 62.50 would be a very good start for GIS, but ultimately closing above 64.00 is what we want to see here. If it does, I'd look for the next move to be in the 69.00-70.00 area. We're not talking a Tesla (TSLA) type move,
but GIS also doesn't carry the downside risk of a TSLA. GIS also carries a 3.19% dividend yield, attractive for those seeking income.
Happy trading!
Tom Bowley
Chief Market Strategist
EarningsBeats.com
Better Timing. Better Trades.
|
|
|
