Rocketman

3M (MMM) 50% Drop Buying Opportunity

Long
BATS:MMM   3M Company
Fundamentals:
New CEO William Brown
Forward guidance for 2024 is positive.
Sales are moving forward in a positive trajectory.
It is not a super stock, but a cash flowed dividend payer.
Possible recover in the balance sheet of 3M since 2021.

Technicals:
Quarterly
3M has falling 50% from 2021 highs and has reached a critical quarterly support area.
Quarterly engulfing candle pattern at support, engulfing the prior two quarters.
Quarterly extreme indicator
Quarterly exDiv1
a-b-c equal legs completion

Monthly:
October 2023 hammer with ending volume (d1a)
Multiple bullish candle patterns
March 2024 engulfing candle pattern with higher volume
All above events at quarterly support

Weekly:
MACD above zero with chikou above prices

Daily:
Daily stage 3 with shallow pb pattern




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