3M Company (MMM/NYSE): general review
20 August 2018, 11:07
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 205.60 |
| Take Profit | 209.00, 212.00, 215.00 |
| Stop Loss | 202.00 |
| Key Levels | 194.00, 198.00, 202.00, 205.50, 209.00, 212.60 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 201.90 |
| Take Profit | 197.00, 194.00 |
| Stop Loss | 205.50 |
| Key Levels | 194.00, 198.00, 202.00, 205.50, 209.00, 212.60 |
Current trend
Shares of 3M Company decreased by 3.57% since the beginning of August. Earlier the company published a strong quarterly report with results higher than market expectations, and also raised its annual earnings per share forecast. Since the beginning of the year, the emitter's quotes drop by 13.00%.
The Board of Directors of 3M Company declared quarterly dividends in the amount of USD 1,36 per share payable on September 12.
During the previous week, the emitter's shares grew by 1.39%. S&P500 went up by 0.64% within the same period.
Support and resistance
Last sessions, #MMM's shares were influenced by "bearish" tendencies. Currently, the local support and resistance levels are 202.00 and 205.50 respectively. The company's shares have the potential for further recovery.
Indicators don't give a clear signal: the price crossed MA(50), and MACD is located near the zero mark. 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: 202.00, 198.00, 194.00.
Resistance levels: 205.50, 209.00, 212.60.
Trading tips
If the price consolidates above the resistance level of 205.50, further growth of #MMM quotes is possible. Potential profits should be locked in by orders at 209.00, 212.00, and 215.00. Stop loss –202.00.
If the price consolidates below 202.00, one may consider selling the company's stock. The moving potential is aimed at the area of 197.00-194.00. Stop loss – 205.50.
Implementation time: 3 days.
Shares of 3M Company decreased by 3.57% since the beginning of August. Earlier the company published a strong quarterly report with results higher than market expectations, and also raised its annual earnings per share forecast. Since the beginning of the year, the emitter's quotes drop by 13.00%.
The Board of Directors of 3M Company declared quarterly dividends in the amount of USD 1,36 per share payable on September 12.
During the previous week, the emitter's shares grew by 1.39%. S&P500 went up by 0.64% within the same period.
Support and resistance
Last sessions, #MMM's shares were influenced by "bearish" tendencies. Currently, the local support and resistance levels are 202.00 and 205.50 respectively. The company's shares have the potential for further recovery.
Indicators don't give a clear signal: the price crossed MA(50), and MACD is located near the zero mark. 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: 202.00, 198.00, 194.00.
Resistance levels: 205.50, 209.00, 212.60.
Trading tips
If the price consolidates above the resistance level of 205.50, further growth of #MMM quotes is possible. Potential profits should be locked in by orders at 209.00, 212.00, and 215.00. Stop loss –202.00.
If the price consolidates below 202.00, one may consider selling the company's stock. The moving potential is aimed at the area of 197.00-194.00. Stop loss – 205.50.
Implementation time: 3 days.
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