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MMM trade ideas

Purchase of 3M in the continuation of the 5th wave of growthThe company is 3M (MMM). According to all estimates and proportions, now the price in 3M is in the 4th wave in the form of a triangle. The price is at the lower border of the triangle, there have already been false takeaways down. I propose to consider buying it in the continuation of the 5th wave with the goal of expanding on the first wave of Fibonacci 2.618, or 0.618 from the third wave. These Fibonacci levels coincide with the global maximum of January 2018, which also confirms their validity. The potential yield from the current price is 32 percent with the prospect of growth for about a year. Naturally , this is not an investment recommendation.
NYSE:MMMLong
by rvasilchenko
MMM - 3M COMPANY - upside break Historic: 08/27/2021 (dd-mm-yy) Fear & Greed Index: 39 Mid-term forecast (2-4 weeks): If price breaks the 208.80 resistance, a resumption of a strong uptrend is expected. Aiming at 222.07 (2-3 weeks) and 280.61 (3-4 weeks). If the support at 187.63 breaks, the short-term forecast (resumption of the downtrend) will not be valid. We will close our open trades if the 187 or 122.16 level is broken in the medium term. Technical analysis: A CUP forms on the daily chart between 200 and 121, starting on april 01, 2019. This week in August 27, 2021 it can break 208.80 and is expected to rise to 222.07 and 280.61 according to technical analysis and confirmation of the pattern. + Trigger: Trigger1= 208.80 + Take Profits: TP1=222.07 TP2=280.61 + Stop: Stop1=187.63 Stop2=122.16 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment!
NYSE:MMMLong
by LimitlessNautilus
Trade Setup: Buy/Long 3M CompanyType: Swing On Tuesday 27 July, the company reported their quarterly results, with both earnings and revenue exceeding expectations, with net income of $1.524 billion, or $2.59 a share, in the second quarter, up from $1.306 billion, or $2.25 a share, in the year-earlier period. Adjusted per-share earnings were also $2.59, ahead of the $2.28 FactSet consensus. In addition, the company raised it's full-year guidance with as it now expects full-year sales to grow 7% to 10%, up from prior guidance of 5% to 8%. It also expects per-share earnings to range from $9.70 to $10.10, against prior guidance of $9.20 to $9.70. With the earnings having been reported, traders are now able to take advantage of the potential upward swing in price as market participants latch onto the results. A review of the daily chart sees the price looking to emerging from a 3-month consolidation range to continue it's gradual upward trend. The downward trend line extending back to the peak of 10 May is being cleared while the pivot is also being held. We also note the 7-day RSI trading at 63 (and clearing the downward trend line), which is considered a strong rank. In addition, the 50-day EMA is being reclaimed Trade Levels: Buy at current levels or better ($201.57 or lower) Stop-loss: $196.15 Target: $212.00
NYSE:MMMLong
by LD_Perspectives
Awaiting a retrace to key support levelA beautiful level has been gained recently in march 2021 and moved up creating a new high. Looking back on the chart this is a key level in the for 3M during the last few years: the high in august 2016 tested it and found resistance, in the beginning of 2017 the level was gained, tested as support twice with lows in the end of 2018, lost the level again in 2019 and then tested it twice again as resistance with the high in 2019 and the also with the pre-corona high. It would make sense to test this level again as support, and make a good entry point before moving further up towards the high range of 2018-2018 around 217$ The analysis above is not financial advice by any means, it's purpose is merely providing educational value tho those who are interested in learing about technical analysis
NYSE:MMMLong
by Stefan-Trading