MMM stock confirmed the formation of an upward sloping trend line on th weekly timeframe showing to what extent the bulls are in control of the trades pushing the prices higher.
Price Targets: $201.35 - $206.55 - $216.35
Looking for an Intraday Bounce on the 15M from the 50. Setup Parameters are below. Once you hit TP1 - Close half and move stop loss to entry.
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ID50 Bounce Trade (15M)
Sell Limit GBPNZD
Entry - 1.93700
SL - 1.94100
TP1 - 1.93400
TP2 - 1.93044
TP3 - 1.92583
Speculation into the future.
TRADING IS NOT SUITABLE FOR EVERYONE.
If you don't know what you're doing... TRADING CAN CAUSE YOU TO COMPLETE LOSE ALL OF YOUR MONEY.
Comment if you feel like it and have a great day!
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X Force Global Analysis:
3M (MMM) is a multinational conglomerate corporation operating in the fields of industry, worker safety, US health care, and consumer goods. In this analysis, we take a purely technical approach to the stock, assessing its bullish probabilities.
- What's most noticeable in 3M's weekly chart is the descending parallel...
Description of the analysis:
Main s/r zones for 3M shares. Currently on strong support from 2016, a very suitable opportunity in terms of technical analysis and volume distribution of the price. The dividend strenght will be attractive. 3M has an earnings payout ratio better than 29% of dividend stocks. MMM pays 46% of its operating cash flow as a...