3M3M looking like plenty more downside to go, focusing on long term trend line as target, prior to a pull back to the upside
MMMC34 trade ideas
MMM MicroExpecting 5 up and then 3 down into the box for 2, at this point it would be a great long term long
MMM Short to 178 if no break at $210MMM in down channel and will need to break 210 with a candle daily close above the 618 line. If this does not hold Planned short to 178 Right above the .5 fib line.
MMM shares Sell IdeaMMM shares Sell Idea @Weekly Supply Zone (216.86 - 221.520)
Sell Limit: 216.81
Stop Loss: 222.59
Take Profit: 196.27
3M has more room for downsideOne of today's top losers is MMM (NYSE), after the results came out the sell off began, even thou the earnings met projections.
There is still some room for the downside, I will keep an eye out for this one and if it hits the trend line it may be worth getting into it, on a ride back to 240 levels.
Large scale look at MMMI actually am not doing anything with it. Just sharing.
This is the massive pic of the 3M stock. Note that there is a large scale channel down pattern. However, I think that it will get squeezed in between the resistance of that channel down pattern and the Fibonacci retracement level, which is shown on the chart.
MMM ShortI did a discounted cash flow valuation on 3m assuming a revenue growth rate of 5%, in line with 10, 5, and 3 year historical averages and it produced a valuation of $135. A 41% downside valuation... When I saw this I questioned the legitimacy, but played around with revenue growth rates and found, that, to justify it's current valuation of $236.55, MMM would need to see top-line growth of 12% YoY.
Leave a comment and let me know what your thoughts on MMM are, for now I'm short them, but would love to hear some other view points.
Is MMM setting up for more pullback?With an upward wedge following a month-long downtrend, is MMM primed for more pullback?
MMM - Upward channel breakdown short from $221.87 to $184.70MMM Seems breaking down from an upward channel formation & also breaking down below 200 days moving average. It has fair amount of insider selling. We think it will continue downward from here.
To play this we Could consider July $200 Puts (currently 2.10)
* Trade Criteria *
Date First Found- March 23, 2018
Pattern/Why- - Upward channel breakdown short
Entry Criteria- $221.87
Exit Criteria- 1st Target $200.73 & 2nd Target $184.70
Stop Loss Criteria- $238.57
Indicator Notes- Negative Twiggs money flow index
Special Note- Insider selling a few 29-36% selling. Could consider July $200 Puts (currently $2.10)
Please check back for Trade updates. (Note: Trade update is little delayed here.)
MMM Correcting down, respecting fibs and support levelsI'm seeing Bullish divergence that is currently playing out. Expecting to see a bounce up to 224-236 range, then get rejected by the .236 and head back down to test 197
3M shares Buy IdeaMMM Monthly Buy idea @ the Demand Zone (210.60 - 200.57)
Buy Limit: 210.75
Stop Loss: 196.16
Take Profit: 234.51
MMM - Upward channel breakdown short from $221.87 to $184.70MMM Seems breaking down from an upward channel formation & also breaking down below 200 days moving average. It has fair amount of insider selling. We think it will continue downward from here.
To play this we Could consider July $200 Puts (currently 2.10)
* Trade Criteria *
Date First Found- March 23, 2018
Pattern/Why- - Upward channel breakdown short
Entry Criteria- $221.87
Exit Criteria- 1st Target $200.73 & 2nd Target $184.70
Stop Loss Criteria- $238.57
Indicator Notes- Negative Twiggs money flow index
Special Note- Insider selling a few 29-36% selling. Could consider July $200 Puts (currently $2.10)
Please check back for Trade updates. (Note: Trade update is little delayed here.)
MMM bullish gartley formed on the 4hr. Buy signal profits @230A bullish harmonic pattern has formed on the 4 hr for 3M in the first of what i suspect as a 5 wave correction based on the length of the bull run. look for profit taking at 230 and a short from there to 200.
3M just ranging3M just ranging at the moment, but where to break the triangle?
What do you think about it?
Learn how to beat the market as Professional Trader with an ex-insider!
Have a good Trading Week!
Cream Live Trading, Best Regards!
3M-LongThis chart shows that a MACD crossover will happen soon and recent price action is positive. This follows the Dow and could see resistance at 240. However, this company has better than expected earnings and strong growth. Therefore I am long with calls. Up 70% in three days.
Target is 249. Happy hunting.
