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MMM trade ideas

Daily MMM stock price trend forecast analysis11-JUL Price trend forecast timing analysis based on pretiming algorithm of Supply-Demand(S&D) strength. Investing position: In Falling section of high risk & low profit S&D strength Trend: In the midst of a rebounding trend of upward direction box pattern price flow marked by limited falls and upward fluctuations. Today's S&D strength Flow: Supply-Demand strength had a strong buying flow than a flow in falling section. read more: www.pretiming.com Forecast D+1 Candlestick Color : RED Candlestick %D+1 Range forecast: 0.8% (HIGH) ~ 0.1% (LOW), 0.4% (CLOSE) %AVG in case of rising: 1.1% (HIGH) ~ -0.6% (LOW), 0.6% (CLOSE) %AVG in case of falling: -0.1% (HIGH) ~ -1.6% (LOW), -1.2% (CLOSE)
NYSE:MMM
by pretiming
Bullish H&S in 3M Corp. Shares of MMM look to be forming an inverse H&S pattern that looks it could be a favorable setup for the bull camp. It's deeply oversold with an R.S.I. reading of 22.9 and is holding the neckline support, so I think it's headed higher. Shares are in the buy zone right now at $185, which is the neck of the pattern. Look for minor resistance around the gap down at $197-200. I doubt this will pose much of a challenge for the shares, although it may provide another buying point. Major resistance comes in at the target of the pattern at $218-224, which I believe will be reached prior to the next earnings release on July 25th. Set your stop-loss beneath the head, around $177-179. That gives you a nice risk-reward ratio... -$8 (-4.3%) to the downside and +$39 (+21.8%). That's a 5.1:1 bullish ratio. I'm a buyer for sure!
NYSE:MMMLong
by EchoAlphaBravo
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