3M Co. (MMM/NYSE): general review
16 May 2018, 11:01
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 206.10 |
| Take Profit | 212.00, 218.00, 224.00 |
| Stop Loss | 200.00 |
| Key Levels | 192.00, 200.00, 206.00, 210.00, 220.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 199.90 |
| Take Profit | 192.00, 185.00 |
| Stop Loss | 206.00 |
| Key Levels | 192.00, 200.00, 206.00, 210.00, 220.00 |
Current trend
Shares of 3M Co. pushed back from the 52-week low at the end of April and rose by 4.3% in the first half of May. The drop in quotations of the issuer amounted to 14% since the beginning of the year.
Executive Board of 3M Co. announced the payment of the quarterly dividend of USD 1.36 per share on June 12.
During the last week the stock of 3M Co. grew by 0.33%. S&P 500 index went down by 0.75% during the same period.
Support and resistance
The stock of the company is showing an ambiguous technical picture. At the moment, the #MMM shares are consolidating. Local support and resistance levels are 200.00 and 206.00 respectively. Company's shares correction is possible in the near future. Indicators show mixed signals: the price has consolidated below MA(50) and MA(200), and MACD is in the positive zone. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors in the industry, we can say that #MMM shares are neutral.
Support levels: 200.00, 192.00.
Resistance levels: 206.00, 210.00, 220.00.
Trading tips
If the price consolidates above the resistance level of 206.00, growth of #MMM quotes is expected. Potential profits should be locked in by orders at 212.00, 218.00 and 224.00. Stop-loss will be placed at 200.00.
If the price consolidates below the support level of 200.00, one should consider selling the company's stock. The movement potential is aimed in the area of 192.00–185.00. Stop-loss should be placed at 206.00.
Implementation period: 3 days.
Shares of 3M Co. pushed back from the 52-week low at the end of April and rose by 4.3% in the first half of May. The drop in quotations of the issuer amounted to 14% since the beginning of the year.
Executive Board of 3M Co. announced the payment of the quarterly dividend of USD 1.36 per share on June 12.
During the last week the stock of 3M Co. grew by 0.33%. S&P 500 index went down by 0.75% during the same period.
Support and resistance
The stock of the company is showing an ambiguous technical picture. At the moment, the #MMM shares are consolidating. Local support and resistance levels are 200.00 and 206.00 respectively. Company's shares correction is possible in the near future. Indicators show mixed signals: the price has consolidated below MA(50) and MA(200), and MACD is in the positive zone. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors in the industry, we can say that #MMM shares are neutral.
Support levels: 200.00, 192.00.
Resistance levels: 206.00, 210.00, 220.00.
Trading tips
If the price consolidates above the resistance level of 206.00, growth of #MMM quotes is expected. Potential profits should be locked in by orders at 212.00, 218.00 and 224.00. Stop-loss will be placed at 200.00.
If the price consolidates below the support level of 200.00, one should consider selling the company's stock. The movement potential is aimed in the area of 192.00–185.00. Stop-loss should be placed at 206.00.
Implementation period: 3 days.
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