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MMM trade ideas

3M $MMM Trade IdeaI entered a trade on NYSE:MMM yesterday as the stock pulled back to the previous diagonal resistance after the previous day breakout. Today the price seems to be continuing its bullish movement after a simple S/R flip. The moving averages are all sloping up showing short term bullish momentum. We see that the oscillators are overbought in the short term so we might see a small pullback which I will use to add more options contracts to this position. Hope this helped the readers, follow me for more trade ideas. Thank you, BK
NYSE:MMMLong
by Konstandinovic
1
3M's net profit is up. What about its shares? 25/10/2023Earnings season continues in the US, and 3M reported its second consecutive increase in net profit, with 2.68 USD per share, which is higher than the company's or analysts' expectations. In addition, the company is a dividend aristocrat. At the time of writing this text, the dividend yield of the company's securities was at 6.83%, significantly higher than the US average. Therefore, it will be interesting to look at the 3M Co. (NYSE: MMM) stock chart today. On the D1 timeframe, support has formed at 85.35, with resistance at 90.30. These levels are determined based on the price's highs and lows during the resulting downward trend. In addition, a "double bottom" trend change pattern has been formed. If the resistance level is broken through (the bar on D1 closes above 90.30), the stock price may rise to 108.37. On the H1 timeframe, after resistance at 90.30 is broken through, the short-term target for the price increase is around 98.09; while in the medium term, it could reach 108.37. — Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews. The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments. Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
NYSE:MMM
by RoboMarkets
MMM 3M Company Options Ahead of EarningsIf you haven`t bought MMM ahead of the previous earnings: Then analyzing the options chain and the chart patterns of MMM 3M Company prior to the earnings report this week, I would consider purchasing the 87usd strike price Calls with an expiration date of 2023-11-3, for a premium of approximately $2.39. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:MMMLong
by TopgOptions
1
$MMM Parallel Downtrend BreakNYSE:MMM Bearish to Bullish Reversal, In a notable development for 3M Company ( NYSE:MMM ), the stock appears to have broken its parallel downtrend, a pattern that has been influencing its price movement for an extended period. A parallel downtrend consists of two downward sloping trend lines that chart the lower highs and lower lows of an asset over time. This break could signify a potential shift in investor sentiment and may be indicative of a forthcoming bullish cycle. The break from a downtrend is often considered a bullish signal in technical analysis and could be followed by an upward momentum. However, traders should exercise caution and look for confirmation through other technical indicators such as volume, moving averages, or Relative Strength Index (RSI) to validate the trend reversal. High trading volumes accompanying the break could bolster the case for a sustained upward trajectory.
NYSE:MMMLong
by AlgoTradeAlert
3M Company Is At Technical Support3M Company with ticker MMM has been trading bearish for the past 5 years, actually since the beginning of 2018, where we see a completed higher degree wave III. The wave structure from 2018 highs is in three waves A-B-C, which indicates for a higher degree wave IV correction. We can now see it sitting at interesting 90 support area, especially if we consider equal wave length of waves A=C that stopped at the former wave 3 swing high resistance around that 90 area. A recovery back above channel resistance line and 210 region would be definitely signal that higher degree wave V is in progress, which would send the price back to all-time highs.
NYSE:MMMLong
by ew-forecast
MMM Possible Wyckoff PatternMMM creating ST type bounces off of the $95 support area. Launching it into the Liquidity zone at $112. Rejecting that and pulling back towards the STs. If it follows the rules could follow a similar path to the yellow arrow. Currently this Thesis is supported by an ongoing Weekly Classic Bullish Divergence and potential Daily Hidden Bullish Divergence so far. Recently solving thousands of courts at once, 3M knows what they're doing and I believe Mike Roman is capable enough to turn business back around.
NYSE:MMMLong
by Ana_NSr
New LogoAs you all have probably seen, we have changed our logo and name! Shortly, we will go online with our website on which were are going to provide you with free daily market updates - more than one per day. But for the time being, let us look at the 3M chart where we can see an increasingly strong bullish impulse. It is important that the pressure is kept high until we confidently cross the resistance at $117.80. There, we should see a small setback, before the bulls take over again. It is important that the course remains above $92.38.
NYSE:MMMLong
by MarketIntel