3M just can not catch a break, it seems that everything is working against it, the trade war, the strong dollar, economic slowdown concerns, and industrial spending have all attributed to the disastrous stock performance in 2019. Until these issues change and in particular the China trade issue, they stock will continue to tumble.
MMM "3M" is a Dividend King. They have increased or remained dividend level for 56 consecutive years.
Heavily oversold on the daily.
Cup and handle forming on the monthly.
Blue and Grey sky movement through the period of consolidation from historical reference.
3 Month Target $195.
6-12 month Target $220
3M IS NEAR THE TOP OF THE LIST OF COMPANIES WHO NEEDS A TRADE DEAL WITH CHINA SWIFTLY. THE RECENT EARNINGS REPORT HIGHLIGHTED THE DIFFICULTIES 3M IS HAVING WITH CHINA AND THE IMPACT OF TRADE WORRIES.
THE STOCK HAS NOW SOLD OF 20% POST EARNINGS, WITH ANOTHER 20% POSSIBLE IF WE DO NOT GET A DEAL/TRUCE TODAY. POSITIVE NEWS COULD SEND THIS SOARING 20% IN A FEW DAYS...
People forget this is a dividend stock not just a swing stock. As for the tech entry-178-180 | stopL 174
Profits 1/2 199-201
They have some restructuring to do but once that's settled they can focus on their Acelity Purchase. This company makes a product that closes complex wounds and has lots of ancillary applications. They are far from done.
After disappointing profit forecasts 3M suffered massive fall in stock prices. Now retesting a key weekly trend line. Offers a great risk-reward to buy near a loading zone and get on the train with the rest of the buyers, as long as the zone holds.
Shares of MMM look to be forming an inverse H&S pattern that looks it could be a favorable setup for the bull camp. It's deeply oversold with an R.S.I. reading of 22.9 and is holding the neckline support, so I think it's headed higher.
Shares are in the buy zone right now at $185, which is the neck of the pattern. Look for minor resistance around the gap down at...
OF a general market "blue chip" type of company, this one is acting different than the broader markets. A nice buy low, sell high location as well, longer term, for a company most people know how it makes money.
Possible triple bottom down here and or a spot to consider adding into and beefing up a LONG TERM HOLD. [I do not personally plan on buying shares. can't...
MFI showing strong oversold levels. The distance between MA line and Bollinger Bands leads me to believe there is room for further pullback.
Fib Retracement Levels support this hypothesis, though the pullback could stop at the cyan line, a very strong level of support.
Once bounce occurs, short run ending at .618 Fib Line. Possibility Ichimoku Cloud changes and...