Killy_Mel
Short

DOW JONES OVERVIEW: 3M RISKS TO TEST 10-YEAR TREND

NYSE:MMM   3M CO
3M             price is in a very tricky situation...

On long term basis it failed its 5-year (260 weeks) uptrend test by falling below the 1st upper standard deviation from 5-year mean. It's 10-year uptrend is still intact, as price is trading above upper 1st standard deviation from 10-year (520 weeks) mean.

On short term price is in downtrend on quarterly basis (below 1st st             deviation from quarterly (66-day) mean, which is now allinged with upper 1st standard deviation from 5-year mean)

Price has also fallen below upper 1st standard deviation from 1-year (264 days) mean, risking downtrend on 1-year basis.

Thus if 3M             continues to trade below 1st standard deviation from quarterly mean (149) and below 1st standard deviation from 1-year mean (144.75), it risks to retest the 10-year trend border, marked by the upper 1st standard deviation from 10-year mean (130)
timwest PRO
a year ago
What do you suggest doing here? Being short with a cover at 130? Or flat with a go-long at 130 and then how much risk to a stop?
Reply
Killy_Mel timwest
a year ago
well this is not much of a trade - its just saying that below 144.75 the price risk to tag 130, basically dont take longs below 144.75=)

and so far the risk is still there (to tag 130 that is!)
Reply
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