3M Company with ticker MMM was trading in a larger A-B-C correction within a higher degree wave IV for the last 5 years, but we have been warning about strong support with equal wavelength of waves A=C already back in 2023.
As you can see now in 2024, we can see a strong rebound after a completed projected higher degree A-B-C correction within wave IV, so wave V...
Reasons for bullish bias:
- Price gave a strong weekly resistance breakout
- Price respecting daily trendline
- Playing DOW
- Positive Earnings
Here are the recommended trading levels:
Entry Level(CMP): 104.55
Stop Loss Level: 94.63
Take Profit Level 1: 114.47
Take Profit Level 2: 124.39
Take Profit Level 3: Open
CAT on the daily chart has trended down more or less since the last earnings beat 6-7 weeks ago.
It has now found support at the 0.5 and 0.612 Fibonacci levels confluent with the mean VWAP
anchored back 6 months. The Bollinger Band Trend shows a narrow band with for the first time
this year. The Relative Trend Index is negative but about to go neutral. I see...
Amidst a challenging industrial landscape, 3M Co (NYSE: NYSE:MMM ) emerges as a beacon of resilience, surpassing profit estimates in its latest quarterly report. Despite headwinds such as slow sales and inflationary pressures, the company's strategic initiatives, including price hikes and cost-saving measures, have propelled it to success.
Strategic Adaptations...
If you haven`t bought MMM before the previous earnings:
Then analyzing the options chain and the chart patterns of MMM 3M Company prior to the earnings report this week,
I would consider purchasing the 89usd strike price Puts with
an expiration date of 2024-5-3,
for a premium of approximately $1.08.
If these options prove to be profitable prior to the earnings...
Introduction:
3MMM stock has been continuing in a downtrend channel for a long time. However, recent movements reveal an upward flag formation and a head and shoulders pattern.
Technical Analysis:
Upon examining the chart, it's evident that 3MMM stock has been moving within a long-term downtrend channel. However, recently, an upward flag formation has been...
🔉Sound on!🔉
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On March 29, 3M ( NYSE:MMM ) announced that the settlement agreement with US public water suppliers (PWS) to address the presence of per- and polyfluoroalkyl substances (PFAS) in drinking water has received final approval from the US District Court in Charleston, South Carolina. The now-finalized agreement will offer support to PWS that detect PFAS at any level or...
Industrial conglomerate 3M ( NYSE:MMM ) has made a strategic move by appointing Bill Brown, former CEO of L3Harris Technologies, as its next chief executive officer. The decision comes amidst a challenging period for 3M ( NYSE:MMM ) , marked by declining sales and the looming repercussions of several lawsuits. With 3M's ( NYSE:MMM ) shares rallying nearly 7%...
3M is ready to reverse.
A head and shoulders appeared on the 4-hour time frame.
I think now is a good time to trade long term.
Target 110 -120 USD
If we will above to 150-160 USD.
In a recent quarterly report, multinational conglomerate 3M ( NYSE:MMM ) showcased resilience in the face of challenges, beating earnings estimates for the fourth quarter of 2023. The maker of iconic products like Post-it notes and Scotch tape reported adjusted earnings of $2.42 per share, surpassing the Zacks Consensus Estimate of $2.31 per share. This marks a...
Earnings season continues in the US, and 3M reported its second consecutive increase in net profit, with 2.68 USD per share, which is higher than the company's or analysts' expectations.
In addition, the company is a dividend aristocrat. At the time of writing this text, the dividend yield of the company's securities was at 6.83%, significantly higher than the US...
If you haven`t bought MMM ahead of the previous earnings:
Then analyzing the options chain and the chart patterns of MMM 3M Company prior to the earnings report this week,
I would consider purchasing the 87usd strike price Calls with
an expiration date of 2023-11-3,
for a premium of approximately $2.39.
If these options prove to be profitable prior to the...
NYSE:MMM Bearish to Bullish Reversal, In a notable development for 3M Company ( NYSE:MMM ), the stock appears to have broken its parallel downtrend, a pattern that has been influencing its price movement for an extended period. A parallel downtrend consists of two downward sloping trend lines that chart the lower highs and lower lows of an asset over time. This...
The 3M stock was able to undershoot the support at $92.38 in the past weeks. Now it is not far to the green target zone between $83.82 and $74.28, where we expect the low of the white wave (II). To capitalize on the expected change in direction, long positions can be opened within the zone. Stops should be placed about 1% below the zone, as a 36% likely...
NYSE:MMM
CME_MINI:NQ1!
OANDA:NAS100USD
PEPPERSTONE:NAS100
I noticed the relationship between the #MMM movement in the past and the Nasdaq movement now. If based on the #MMM chart, then the goal for us is about 9000 points.
3M Company with ticker MMM has been trading bearish for the past 5 years, actually since the beginning of 2018, where we see a completed higher degree wave III.
The wave structure from 2018 highs is in three waves A-B-C, which indicates for a higher degree wave IV correction. We can now see it sitting at interesting 90 support area, especially if we consider...
