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3M COMPANY33

3M COMPANY

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MMM trade ideas

$MMM 3M Co. - Long Term Bull Flag, Bullish Options Activity$MMM 3M Co. - Long Term Bull Flag, Bullish Options Activity 3M slowly approaching a break out of a long term bull flag pattern on the weekly chart. Monitor for a close above $171. Bullish Options Activity: $5.3 M in $165.00 strike (ITM) Dec'20 calls traded today (18x OI) $3.9M in $170.00 strike (OTM) Dec'20 calls traded today (8x OI) Medium term target: $182.00 by year-end Long term target: $220.00 by July'21 Note: This is NOT investment advice.
NYSE:MMMLong
by Triple_Barrel_Capital
Our Stock of the Day / 3M CompanyToday we have a short setup to take; here, we will show a full explanation of it. a) Before understanding this idea, we should take a look at the Daily chart -The price reached a major reversal zone composed of a Daily descending trendline and a resistance zone -Based on that, we can see substantial bearish potential towards the next support zone -Having the big picture clear, we can develop our setup on the 30minutes chart b) We have a corrective structure making a pullback on the resistance level and the broken ascending trendline c) We have set our short orders below "C" at 158.8 d) The break-even is on the first fibo extension e) We will close our position on the next support zone f) The risk we are taking here is 1%. Trade Safe, protect your capital, and always understand what you are doing!
NShort
by ThinkingAntsOk
MMM LongI have posted a chart for this company few weeks back. MMM to me looks very intersting. Downtrend from 2018 is being broken after a long consolidation. Price just broke out of it today in a market down day. High volume. Trend indicators are showing momentum. Good company with fundamentals trying to turn around. F/PE not so attractive. But EPS expected to grow next year as we come out of Covid-19. I have not done any big research on its long term fundamentals but technical analysis is calling for a buy. This is a dividend paying stock. So liked by many. This is just an opinion and not a buy or sell recommendation. All posts are for educational purposes only. Please do your own homework before putting your hard earned money on the line.
NLong
by Riainvestment
3m - Dividend Star - Long TradeHey everyone, 3m is one of the most suggested stocks when it comes to dividends. But also for traders there are decent opportunities atm. The stock goes along the support area, the RSI is on the buy side but not overbought but the trend aims up. The dividend is 3.5% and the company raised their dividend since the past 62 years. One could say, you can buy it now no matter what kind of investment style you have <3 Buy: Now / 162$ ( Stop: 159$ ) ( Take Profit: 182$ ) Much fun with that trade / invest! Leave a follow please, my goal is 200 :)
NLong
by QuantinvestGER
2
3m looks like it's getting ready for a run to the long side.Beautiful Medium term downtrend which was a correction when you see a larger picture is now broken after the consolidation. this new trend before the breakout started with completion of a Fib retracement. My only worry is I see market coming down for next few days which may impact on the strength of this stock. No matter what 3M is a good name. Would love to own at a cheaper price. This is just an opinion. Do your own homework before buying or selling any financial assets.
NLong
by Riainvestment
The Other Kind of Broadening FormationIn many of my posts, I highlight the rising broadening patterns that have emerged on many of today's popular tech stocks. These of course, once complete, are somewhat devastating to those patterns' underlyings. The price action tends to fall from those broadening patterns with some force. However, significantly more rare in today's highly financialized bubble stock market is the converse pattern, the falling broadening pattern. And with 3M, that is what we see. A fundamental shift in the price action began in 2018, ending 3M's multi-decade bull market. This agrees with a general shift in tone that I see on many world indices that began in 2018. And it was at this point that it began to form it's falling broadening pattern. As with many other stocks, this will of course deteriorate significantly, however, this ends with a terrific moonshot to the upside. That of course will not be happening any time too soon, as presently, the bearish convergence on the RSI indicates to us that we have more downside to come first. But, perhaps it is in our eventual future that manufacturing in the United States will make some recovery, and perhaps this stock will reflect that when it is time.
NShort
by CHTradingGroup