GIS is completing a head and shoulders pattern targeting $30.26; however, the steep decline implies a potential near-term technical bounce to $35.54.

Look at this model. This is on the weekly timeframe in the GIS chart, General Mills. Look at this huge head and shoulders model . Okay, I'm not going to lie to you guys. When I first saw this model, I drew it a while ago.

I drew it in 2024. When I drew it, I said, "I do n't see this happening, guys. I don't see the possibility of the price movement coming here because the measured distance was too far ."

But I kept it on my chart and kept my target on it . Hey guys, look where we are now . We are inches or perhaps millimeters away on this chart from reaching the measured target, which is here at $30.26. It is currently trading at $31.68.

So, we are in the final stage of the head and shoulders model. This is what could happen. Notice the price movement when the price broke this head and shoulders pattern. We're back on the rise, and we've retested the neckline.

We even closed one weekly candle above it in a retest. We never confirmed climbing above it, and then look at the collapse that occurred. Now, there have been bounces all along this road, even one huge one that happened here on June 1st.

A huge jump to $41, $42, but she's given all that up since then. Now, this is a strong support level. We have a Fibonacci retracement level of 886. We have a measured move target at $30.26.

Then, if you go back in the chart, notice these high points in June, up to here in December, and then that range as well, consolidation above all that range before the price broke it upwards.

This range is taken into account at $30.70. Therefore, we have a good support zone of about 70 cents starting from $30.90. The only caveat here is that we saw the price get very close to it here on June 1st, and then we had a huge bounce.

Had we not received that bounce, I would have placed my bets here at this level in anticipation of an upward move on the chart. The good thing that might somewhat negate the bounce that has already occurred is the severity and nature of the direct vertical downward movement, which needs a technical bounce in the near term, which might raise the price up here at $35. and $0.54. So, keep that on your radar.