Shares of 3M Co. remain in a sideways trend near 145.00, while bearish pressure gradually increases as the price trades below the support line of an ascending channel.
The broader structure suggests weakening bullish momentum, with sellers attempting to regain control.
⸻
Bearish Pressure Increases
On the daily chart, the stock remains below the ascending channel:
• Channel range: 176.00–151.00
• Price holding near key support
On the 4-hour timeframe:
• Range breakout already occurred
• Support near 150.00 tested
• Local low reached near 140.00
A break below 140.00 may accelerate downside momentum.
⸻
Technical Indicators
Indicators suggest strengthening bearish momentum:
• Alligator EMAs below signal line
• AO histogram forming negative bars
• Sell signal strengthening
➡️ Downside risk increasing
⸻
Key Levels
Resistance
• 150.60
• 162.00
Support
• 142.20
• 130.00
⸻
Trading Scenarios
Bearish Scenario
Sell below 142.20
• Entry: 142.15
• Target: 130.00
• Stop-loss: 150.00
• Timeframe: 7 days or more
⸻
Bullish Scenario
Buy above 150.60
• Entry: 150.65
• Target: 162.00
• Stop-loss: 145.00
⸻
Outlook
3M remains in a zone of uncertainty, with key levels determining direction:
• Break below 142.20 → bearish continuation
• Break above 150.60 → bullish recovery
Short-term outlook remains bearish.
The broader structure suggests weakening bullish momentum, with sellers attempting to regain control.
⸻
Bearish Pressure Increases
On the daily chart, the stock remains below the ascending channel:
• Channel range: 176.00–151.00
• Price holding near key support
On the 4-hour timeframe:
• Range breakout already occurred
• Support near 150.00 tested
• Local low reached near 140.00
A break below 140.00 may accelerate downside momentum.
⸻
Technical Indicators
Indicators suggest strengthening bearish momentum:
• Alligator EMAs below signal line
• AO histogram forming negative bars
• Sell signal strengthening
➡️ Downside risk increasing
⸻
Key Levels
Resistance
• 150.60
• 162.00
Support
• 142.20
• 130.00
⸻
Trading Scenarios
Bearish Scenario
Sell below 142.20
• Entry: 142.15
• Target: 130.00
• Stop-loss: 150.00
• Timeframe: 7 days or more
⸻
Bullish Scenario
Buy above 150.60
• Entry: 150.65
• Target: 162.00
• Stop-loss: 145.00
⸻
Outlook
3M remains in a zone of uncertainty, with key levels determining direction:
• Break below 142.20 → bearish continuation
• Break above 150.60 → bullish recovery
Short-term outlook remains bearish.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.