3M: I Want to Break Free 💪
3M wants to break free from the compound consisting of the red zone between $93.83 and $107.35 and the green zone between $92.38 and $105.93, where it has finished wave (II) in white. To achieve this, the share has already developed convincing upwards momentum, which should soon carry it out of the zone-compound and above the resistance at $117.80. There, 3M should complete wave (3) in red before a counter movement should take it back below this mark. As soon as wave (4) is concluded, though, 3M should resume the overarching ascent. However, there is still a 33% chance that the share could lose its momentum and tumble below the support at $92.38. In that case, we would have to reckon with a new low in the form of wave alt.(II) in white first before a sustainable upwards movement can start.
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