In this January bullish market, bear flag breakdowns have mostly led to flat lines rather than massive drops, but given 3M's China business, and a week already full of dismal earnings reports, it can be expected that this bear flag will play out as a minor decline in the short-term stock price. There is fresh demand in the low to mid 180's, and even if it falls...
MMM Bullish Shark
Time Frame: 240
Predicted Direction: long
I will order pending buy stop at @192.11
MMM updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade...
I am starting to develop a framework for how I manage my portfolio.
Here is a glimpse into the TA/FA view, and summaries I am preparing for each chart, to always know where I'm at, relative to a company I'm invested in, or any asset I might be speculating.
Charts will be directly associated with a spreadsheet, where I'll organize my asset mix, sizing, and positioning.
$MMM is your stock if you like rising pincher plays.... trend lines on price action shown in black on this chart... treding upwards and making higher highs and higher lows, but the 200 MA is looming of SO many stock within the DOW30 right now on these DAILY charts... if it is respected by the price action... the likely outcome will be prolonged stagnation moving...