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CheelooTrader
Apr 26, 2022 4:39 PM

MMM - Wedge Breakdown Short

3M CompanyNYSE

Description

  • Rejected VMA and wedge breakdown
  • Price might find some buyers at the bottom of the wedge, but rollover more likely at the MAs diverge.
  • IF, Price can consolidate above 140, can reverse and head higher, so patience is warranted on the both sides.

Comment

Showing bullish signs...held above 140 and now testing daily VMA @149, possible that it spikes to 153 and pulls back...that'd be a confirmation to flip long.

Trade closed: stop reached

Playing as described yesterday, no need to step in-front of it. Long now.
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