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MMM trade ideas

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
3M - BULLISH SCENARIOOver the last month, the shares of 3M Company, known for producing post-it notes, industrial coatings, and ceramics, have shown a modest return of +0.7%. While media reports or rumors about substantial changes in a company's business prospects can cause short-term trends and immediate price fluctuations, the ultimate decision to buy and hold a stock is often driven by fundamental factors. For 3M, analysts expect earnings of $1.65 per share for the current quarter, reflecting a year-over-year decrease of -33.5%. The consensus earnings estimate for the current fiscal year is $8.73, indicating a year-over-year change of -13.6%. This estimate has seen a slight decline of -0.1% over the past 30 days. Looking ahead to the next fiscal year, the consensus earnings estimate is $9.54, projecting a growth of +9.4% compared to the previous year's earnings for 3M. This estimate has increased by +0.3% in the last month. While earnings growth is a crucial financial indicator, sustainable growth in revenue is equally vital for a company's financial health. Without an increase in revenues over time, it becomes challenging for a company to maintain earnings growth. Therefore, understanding a company's potential revenue growth is essential. For 3M, the consensus sales estimate for the current quarter is $7.95 billion, implying a year-over-year change of -8.6%. The estimates for the current and next fiscal years stand at $32.11 billion and $33.35 billion, respectively, representing changes of -6.2% and +3.8%. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
NYSE:MMMLong
by legacyFXofficial
$MMM Parallel Down Trend About To Reverse NYSE:MMM Parallel Down Trend About To Reverse? As this bull market progress you get sector rotation. For example profit taking in big Tech stocks. I have seen that consistently since this bull market started back in 10-13-2022, here is an example of a consumer products stock that pays a nice dividend yield. A bearish to bullish reversal is a technical analysis pattern that occurs when the price of a stock or other asset moves from a downtrend to an uptrend. This can be a sign that the market is about to change direction and start moving higher.
NYSE:MMMLong
by AlgoTradeAlert
1