Trading Opportunities For FDAX, Dow Jones And General Mills
Markus Gabel | Sep 22, 2016 08:09AM ET
FDAX:
In the hourly chart we can see two opposing, relevant trends, whereby the small trend is facing downwards and the two large ones are running upwards. As expected, the gap from last Friday was closed in the course of an expansion of the correction. Following this, an apparent new movement in a downwards direction started up. However, as long as the closing price does not surpass the red box, this trend will remain intact and can then continue on at any time. In terms of the superior green trend, however, this all remains simply a correction.
{{169|Dow Jones}} :
From the perspective of the hourly chart, this index is in a large downward trend. The current correction zone runs between 18311 and 18554 points on the upper side. After the last course low at 17822 points, the price attempted to stretch the correction out into the red box; however, it got stuck shortly before it. As so often happens when the correction remains floating in mid-air, a trend continuation did not occur on the lower side. Since then, the price has been running sideways. It is possible that the FED meeting will bring the decisive change of direction.
General Mills:
General Mills Inc (NYSE:GIS). is among the leading global food companies. The company produces and markets ready-to-eat cereals, baked goods, ready meals, snacks and milk products. Some of the most well-known brands are Big G cereals, Häagen Dazs, Pillsbury, Green Giant, Old El Paso and Betty Crocker. Furthermore, via joint ventures with Nestle SA (SIX:NESN), the company produces products such as Cine Minis, Chocapic and Fitness Cornflakes.
Since food, as we all know, is always necessary, it is also not unusual for the price of this stock to be doing well. From the point of view of the hourly chart, we can see an upwards trend in the big trend, and this upwards trend is currently within the green box and showing the first signs of a potential new upwards movement. The DowHow signals are also indicating this opportunity to us. With a stop beneath the box, one can speculate on a trend continuation.
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