3M

  • MMM

  • $127

  • +23.24%

  • $113

  • $128

  • $113

Ticker Appearances

Wed, March 13, 2024 | 1:03PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
Wed, March 13, 2024 | 1:03PM ET
For those investors who prefer buying stocks near 52-week lows, vs. those at new highs, 3M might have some appeal as this stock has shown sufficient evidence to expect that this has officially bottomed out and is turning meaningfully higher, (Judged by the uptick in momentum) MMM 23.24%  traded at one point near $260 back in late 2017, so this slide has been very difficult for shareholders until the recent stabilization. However, MMM has formed what i technically call a reverse head and shoulders pattern with its recent slowdown of the selling pressure and this will be confirmed over $111 which would constitute a breakout allowing for a push up to $150-160. I view this as intermediate-term attractive and feel MMM should push higher to 111 in the short run. However, it's the possible move over 111 that should bring about some real acceleration in MMM as this begins its mean reversion within the Industrials space.
Tickers
Wed, July 26, 2023 | 6:00PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
Wed, July 26, 2023 | 6:00PM ET

Look what's coming back from the dead- MMM 23.24% - this signifies a break of a 2 year downtrend for this stock-

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