MMM 16 DEC 120/125/130 BUTTERFLYSIDEWAYS RANGE TRADE SET UP:
For the most part, this has been making relatively equal highs and lows between....let's call it 120 and 130. The 20 day and 50 day are flattening and it's not in any strong rally or strong pull back. I determined my target using the hour chart. I was thinking about having this expire this Friday, but I didn't feel that was enough time so I put it out until next week.
I'm set up for max loss and risking only about 1% of my portfolio.
MMM trade ideas
MMM. Long Term ShortMMM has been dying since I found it at $129. It has broken past both targets(Refer to previous MMM ideas).
MMM is definitely down trending. Most likely it'll continue this way unless, there is a catalyst(positive news, etc)
My next short term target price is $104.
I do believe that we'll see $90 in the next 30 days.
Entry: $109-108.50
1st Target: $104
2nd Target: $90
3rd Target: $70
S.L: $111(May have false break out to $115
Be patience. Be blessed.
MMM PutMMM has successfully broken $125.45 and is now trading below the resistance.
Entry: $122.80-122.60
1st Target: $117
2nd Target: $114
-It should get to the target in the next 14-30 days.
-Volume has decreased significantly today as well
-I also see a nice head and shoulders pattern on the larger chart.
MMM capitulation almost here?!Similar to the SPX/ ES1 and Disney charts (among others), we seem to be on the verge of the scariest but best time to buy. Whether it's a bull-spring (fakeout) or an extended structure below the critical support of ~$124.7, looking left so-to-speak indicates that decades from now we will see these next few months as one of the best times to invest reasonable amounts into fundamentally strong investments. nfa dyor
Bottom FishingPrice is under the bands after a massive sell off that was not an earnings miss.
Folks just got tired of MMM I suppose.
Price fell from what appears to be one of those Heavy Bear Flags I've been seeing a lot of lately. They are almost like a channel up at first look but something does not feel bullish about them.
My first bear market so DUNNO (O:
Not a growth stock and considered to be a conglomerate with a nice yield.
Possible Stop under 104 so not a big risk I guess.
EPS (FWD)
10.39
PE (FWD)
11.71
Div Rate (FWD)
$5.96
Yield (FWD)
4.90%
Short Interest
1.80%
Market Cap
$67.37B
No recommendation.
I am not indicating this is close to the bottom. I am watching for now.
I have learned the hard way that even dirt can get cheaper )o:
MMM 3M Company 141K Calls, $200 Strike Price, Expiring Sept. 16!I don`t know if you monitored the Option Chain last Friday.
I always do that for my clients and I was shocked to see for MMM 3M Company 141K Calls with $200 Strike Price, Expiring Sept. 16!
On Thursday we had 70K calls, same expiration date and strike price.
It has to do something with 3M's Healthcare Spinoff which sees Roadblock from Veterans, which sued the company to block its planned spinoff of the healthcare business.
I bet the call options buyers are thinking that the spinoff will be approved in court by September 16.
The stock is one of the Dividend Kings, the company has increased its dividend for 65 years and the Forward Dividend & Yield id 5.96 (4.90%).
At this oversold level, with the RSI at 22, i wouldn`t be surprised to see at least a technical bounce to $130, if not even higher.
Looking forward to read your opinion about it!
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3M Company (MMM) bullish scenario:The technical figure Falling Wedge can be found in the daily chart in the US company 3M Company (MMM). The 3M Company is an American multinational conglomerate corporation operating in the fields of industry, worker safety, U.S. health care, and consumer goods. The company produces over 60,000 products under several brands, including adhesives, abrasives, laminates, passive fire protection, personal protective equipment, window films, paint protection films, dental and orthodontic products, electrical and electronic connecting and insulating materials, medical products, car-care products,electronic circuits, healthcare software and optical films. The Falling Wedge has broken through the resistance line on 27/07/2022, if the price holds above this level, you can have a possible bullish price movement with a forecast for the next 27 days towards 155.52 USD. Your stop-loss order, according to experts, should be placed at 125.60 USD if you decide to enter this position.
3M Co. said it would spin off its healthcare business as a public company and sought bankruptcy protection for a subsidiary that once produced military earplugs that thousands of veterans now blame for damaging their hearing.
The moves Tuesday attempt to address the industrial conglomerate’s lingering overhangs with sluggish growth of its businesses and an increasing exposure to costs for lawsuits.
The company said it has committed $1 billion to fund a trust to pay claims about its earplugs and $240 million to fund expected expenses related to the cases. 3M said it would provide more funding if required. The company filed for bankruptcy for Aearo Technologies, a subsidiary that once made the earplugs, as a way to fence off the litigation from the rest of 3M.
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MMM SELL +Earnings spike caused overbought indicators on several time frames and charts, high stochastics, high daily rsi, bollinger bands pierced, gap to fill with cloud resistance. Looking for small scalp. Bought puts this morning around $144 range. Bought August 19 $142 puts. Traders should be wary of buying bear market rallies most stocks today will be lower in a few months. GL