Aug. 14 at 8:49 PM
$GIS GIS is curling up with constructive momentum and setting up a clear multi-tier progression.
Structure has shifted decisively off the
$31.75 bottom, with price reclaiming both the rising 50-day (
$35.98) and 100-day (
$35.45) SMAs. With shares currently trading around
$39.20, we are tracking three distinct overhead supply zones:
R-1 (
$40.42): The descending 200-day SMA. This is the immediate checkpoint. Depending on incoming volume, expect price to pause or build a tight consolidation shelf here to absorb overhead supply before attempting continuation.
R-2 (
$45.65): Natural horizontal resistance and former breakdown level. Clearing R-1 opens up the runway directly into this zone.
R-3 (
$49.59): Major macro supply originating from the February highs. With structured patience, this remains our broader upside target as the trend recovery matures.
Execution is simple: watch the volume and price interaction at the 200 SMA (
$40.42). Once that supply clears, the path of least resistance shifts higher. Let the setup work. Please do your own DD. NFA.
