In my search for trading ideas, I decided to look through the Dow components, but here I was out of luck right from the start. The chart of 3M Co. (NYSE: MMM) shows a risk-to-income ratio of 1:1 as the closest support level is USD 137, and the resistance level is USD 192. For the time being, my advice is to abstain from trading in this share.
I’m again...
This may sound somewhat unbelievable, but many of the things that make our daily life easier were invented at this company – 3M. For this reason, at Warren Buffett’s behest, every self-respecting trader should watch for and purchase 3M equities, whose goods and services we all use.
But what is the motivation for buying into 3M? Multiyear upside in these shares...
MMM has periods where it trends really well. But this year there have been two deep pullbacks which would've stopped most trend traders out of their buy positions.
Since price broke above the September pivot high the candles have not been overly convincing. There was a gap up on 31st October but it was a doji, followed by a gravestone doji, which did not inspire...
MMM broke the long term upward trend line during the past week. Right at 200dma,next week is really important for future price action. Break of 200dma could definitely see a trend reversal or a bearish price action. Price above 142 could keep the trend intact.
The broader markets seem to be in the midst of some type of correction as the sell off is continuing today. With these declines I am seeing potential levels to buy stocks such as 3M Co (NYSE:MMM). This giant conglomerate is off about 1.70% and almost 4% from its high of $147.87, set back on September 19. If this market is indeed headed for lower levels then a...
MMM, like TGT ascending triangle on descending volumes.
Not confirmed yet.
If it breaks resistance B-D, could continue
its uptrend.
Target is 152.33$.
Waiting for confirmation.
Distribution appears to be taking place in the daily time frame as a triple top as formed, and about to test support gained for the third time. Monthly, and weekly charts are also beginning to show possible signs of momo death. These are the swing target areas I'm interested in once 143 fails.
Position Break out wave 3
Daily chart above 2 days 140,43 next target wave 3 144,49 end correction 138,80 wave 4 the next target 150,82 the wave 5 end close posisitio
Thanks end good luck
