Is 3M currently a good Stock for a Dividendportfolio?NYSE:MMM
MMM is coming closer to a level where it's getting interesting for buy opportunities. The overall structure is still bullish on the monthly as well as on the weekly. The orderflow on the weekly is currently corrective as price is inside a very clean pullback (PB) The stock has been consolidating for the last weeks, which is a good sign because it is building liquidity [LQ] on the bottom side, which we expect to get taken out before continuing to the upside. So from the technical side, we can start ticking the boxes if price sweeps the Liquidity that it is currently building up.
From a fundamental perspective, 3M is getting closer to the fair value price, which is an additional confluence for me to open up long-term positions. It will be a good fit for my Dividendportfolio.
I'll make an update if the stock makes significant changes in pricing.
Greetings, congrats on sharing your first chart with the community. We hope you had fun working it out as a process. Hope the trade goes well for you. From mod @zAngus
From mod @zAngus