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3mstock

3M: Target Zone in Sight!3M shares remain stuck in a consolidation, looping multiple times. The high of the magenta impulse wave (1) is still pending and should form in our red Short Target Zone between $184.42 and $202.51. Once this range is reached, the corrective wave (2) should kick in, pulling price below the support at $115.56. However, if the high of wave alt.(1) has already been established, wave alt.(2) could mark its low within the green alternative Target Zone between $110.13 and $93.07 (probability: 35%).
NYSE:MMM
by HKCM_Global
3M: Approaching the Target Zone3M stock has recently traced a zigzag pattern on the chart. In the short term, we anticipate further upside, with shares moving into our Target Zone between $184.42 and $202.51. Within this range, we expect to see the peak of the magenta impulse wave (1). Once this level is reached, a corrective wave (2) is likely to set in, pushing price below support at $115.56. Alternatively, it’s possible that the high for wave alt.(1) has already been established. In that scenario, the ongoing alt.(2) would bottom out within the alternative Target Zone between $110.13 and $93.07 (probability: 32%).
NYSE:MMM
by HKCM_Global
3M: Higher High ExpectedAt the start of the year, MMM continued to rise higher before the rally temporarily transitioned into a consolidation phase. February brought slight downward pressure, but after a brief spike back to $141 last week, buying interest returned noticeably. This triggered a strong upswing, with the stock gaining nearly 10% in just a few trading days. As a result, we have identified an internal five-wave structure within the turquoise wave 5 and now primarily assume that the magenta wave is already unfolding. This wave should extend further upward, marking the completion of the broader magenta wave (1). Afterward, we anticipate a significant wave (2) correction, which could also begin earlier. In this 35% likely alternative scenario, the stock would experience a premature sell-off below the $131.40 support, with wave alt.(2) eventually reaching our magenta Target Zone between $106.04 and $86.20.
NYSE:MMM
by HKCM_Global
3M: I Want to Break Free 💪3M wants to break free from the compound consisting of the red zone between $93.83 and $107.35 and the green zone between $92.38 and $105.93, where it has finished wave (II) in white. To achieve this, the share has already developed convincing upwards momentum, which should soon carry it out of the zone-compound and above the resistance at $117.80. There, 3M should complete wave (3) in red before a counter movement should take it back below this mark. As soon as wave (4) is concluded, though, 3M should resume the overarching ascent. However, there is still a 33% chance that the share could lose its momentum and tumble below the support at $92.38. In that case, we would have to reckon with a new low in the form of wave alt.(II) in white first before a sustainable upwards movement can start.
NYSE:MMM
by HKCM_Global
1
MMM 3M Company 141K Calls, $200 Strike Price, Expiring Sept. 16!I don`t know if you monitored the Option Chain last Friday. I always do that for my clients and I was shocked to see for MMM 3M Company 141K Calls with $200 Strike Price, Expiring Sept. 16! On Thursday we had 70K calls, same expiration date and strike price. It has to do something with 3M's Healthcare Spinoff which sees Roadblock from Veterans, which sued the company to block its planned spinoff of the healthcare business. I bet the call options buyers are thinking that the spinoff will be approved in court by September 16. The stock is one of the Dividend Kings, the company has increased its dividend for 65 years and the Forward Dividend & Yield id 5.96 (4.90%). At this oversold level, with the RSI at 22, i wouldn`t be surprised to see at least a technical bounce to $130, if not even higher. Looking forward to read your opinion about it!
NYSE:MMMLong
by TopgOptions
2