This week we will look at a stock that is known for being a slow and steady mover, but we will look at it for more of a mid-term in duration trade. Why would we look at a slow stock when our goal is trading profits? Well, from time to time a stock hits a particular technical area on a chart that is highly likely to draw attention from all sorts of traders and investors. Today, General Mills (GIS  ) has reached that point.

On Thursday, General Mills was upgraded to "buy" from "hold" at Deutsche Bank (DB  ), which brought the stock to fundamental investors' attention. The analyst at the firm stated that the company's core business has now stabilized and that they would see increased opportunity from their pet food company, Blue Buffalo acquisition. They went on to say that they felt that Blue Buffalo was an underappreciated area of their overall business.

From a technical perspective the stock also grabbed attention given that it has now recovered all of its late-year decline from 2018 and is currently sitting near the highs. If you were to look back even further, you'd note that if it breaks out here, there are clear skies ahead given the large open area provided by the sharp gap lower on March 21 of last year. This represents a wide profit zone for all those looking to hop in.

So, with all that being said, the trade of the week is to get long GIS at $48 to participate in this breakout as it happens. A reasonable target in the mid-term is $50 and possibly a touch more. Remember, this is historically a slower moving stock, so consider allocating a little less capital to this trade, as it may be capital that is tied up for a little longer.