AddToAny

AddToAny

Theme images by MichaelJay. Powered by Blogger.

USD/JPY: the epidemiological situation in Japan is rapidly deteriorating 28 July 2022, 11:47

  USD/JPY: the epidemiological situation in Japan is rapidly deteriorating 28 July 2022, 11:47 Scenario Timeframe Weekly Reco...

Sep 13, 2017

3M Company (MMM/NYSE/S&P500) 13 September 2017, 11:57

 


Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 210.55
Take Profit 213.00, 214.00
Stop Loss 209.25
Key Levels 205.50, 207.50, 209.00, 210.50
Alternative scenario
Recommendation SELL STOP
Entry Point 208.90
Take Profit 206.50, 205.50
Stop Loss 210.25
Key Levels 205.50, 207.50, 209.00, 210.50
Industry: multisectoral machine building
Current trend
The inclusion of the stocks of 3M Company into Dow Jones Sustainability Index 2017 has been supporting the quotes of the emitter since the previous week. This is the 18th year when the company is included onto the index list which emphasizes its financial stability and support by investors.
3M Company expects its annual RPS to appear within the range of $8.80-9.05 which is higher than the outlook of $8.70-9.05. The reconsidered forecast shows 8-11% growth in comparison with the previously expected 7-11%.
During the previous week 3M Company shares grew by 4.31%. S&P500 index rose by 1.22% within the same period of time.
Comparing company's multiplier with its competitors, we can say that 3M Company shares are neutral.
Key levels
Since the beginning of the current month the stock of the company has been showing an expressed upward tendency. However, in the beginning of the current week the emitter kept the local resistance level of 210.50 which caused correction movement. Currently the technical picture is uncertain. The closest support level is 209.00. Indicator signals differ. Positions may be opened from key levels.
Support levels: 209.00, 207.50, 205.50.
Resistance levels: 210.50.

Trading tips
If the price consolidates above the local resistance level of 210.50, the correction of #MMM may continue. There is a potential of movement to 213.00-214.00. Stop-loss will be placed at 209.25.
Further correction of #MMM is also possible. If the price breaks though the mirror support level of 209.00, one may consider selling #MMM. The target movement level will be 206.50-205.50. Stop-loss should be placed at 210.25.
Trading tips will be relevant for 3 days.

No comments:
Write comments


If you are interested or have any questions - Contact us!