3M inverse head and shouldersPotential to take a long to retest the broken weekly trend line before another fall.
MMM trade ideas
MMM: Starting out on sub (3) of an extended 5Pivot points, BB, RSI, and MACD support a reversal. Sub (2) of an extended 5 looks finished with a retracement of 76.4. See Detailed chart in comment section.
MMM Begins Extreme Low TestMMM is at a previous yearly low. It rebounded with a gap, an early sign of a potential bottom. Traders who sell short should consider this a higher-risk trade at this time.
3M (MMM) Overreaction swing series.MMM "3M" is a Dividend King. They have increased or remained dividend level for 56 consecutive years.
Heavily oversold on the daily.
Cup and handle forming on the monthly.
Blue and Grey sky movement through the period of consolidation from historical reference.
3 Month Target $195.
6-12 month Target $220
$MMM STOCK AT TIPPING POINT, NEEDS TRADE DEAL NOW. 3M IS NEAR THE TOP OF THE LIST OF COMPANIES WHO NEEDS A TRADE DEAL WITH CHINA SWIFTLY. THE RECENT EARNINGS REPORT HIGHLIGHTED THE DIFFICULTIES 3M IS HAVING WITH CHINA AND THE IMPACT OF TRADE WORRIES.
THE STOCK HAS NOW SOLD OF 20% POST EARNINGS, WITH ANOTHER 20% POSSIBLE IF WE DO NOT GET A DEAL/TRUCE TODAY. POSITIVE NEWS COULD SEND THIS SOARING 20% IN A FEW DAYS SO KEEP ON THE BUY LIST.
Oversold People forget this is a dividend stock not just a swing stock. As for the tech entry-178-180 | stopL 174
Profits 1/2 199-201
Yolo 221+
They have some restructuring to do but once that's settled they can focus on their Acelity Purchase. This company makes a product that closes complex wounds and has lots of ancillary applications. They are far from done.
Oversold!!!MMM is way down in the oversold range. Look at the volume profile there's a clear line to 199 and up to 212.
3M great opportunityAfter disappointing profit forecasts 3M suffered massive fall in stock prices. Now retesting a key weekly trend line. Offers a great risk-reward to buy near a loading zone and get on the train with the rest of the buyers, as long as the zone holds.
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!
MMMMFI showing strong oversold levels. The distance between MA line and Bollinger Bands leads me to believe there is room for further pullback.
Fib Retracement Levels support this hypothesis, though the pullback could stop at the cyan line, a very strong level of support.
Once bounce occurs, short run ending at .618 Fib Line. Possibility Ichimoku Cloud changes and dips below .618 line, becoming a slightly lower line of resistance.
MMM needs to close above 192 to avoid further downside MMM looks very weak. The most extreme is 150.
buy at support? H-MMM200 week moving average and a trendline that has supported since 2012. If the trend breaks you just exit with a small loss, i think it could be a good buying opportunity.
3M Sell IdeaW1 - Price is at the top of the range.
D1 - Bullish cycle, bearish divergence.
H4 - Bearish divergence, if the price moves lower and breaks below the low shown in the chart, we may then start looking for sells with more bearish evidences.
Finding better support and demand zone3M general trend is still bullish but in order for a greater rally ahead, the market is currently showing signs of bearish correction.
- RSI showing strong bearish divergence.
- two potential demand zone spotted at 38.2% and 61.8% of the Fibonacci retracement.
3M US STOCKSLooking to BUY US Stock 3M if price breaks above the upper channel
ENTRY - 211.25
STOP LOSS - 207.95
TAKE PROFIT 1 - 213.86
TAKE PROFIT 2 - 216.21
3M (MMM) Bear Flagging into EarningsIn this January bullish market, bear flag breakdowns have mostly led to flat lines rather than massive drops, but given 3M's China business, and a week already full of dismal earnings reports, it can be expected that this bear flag will play out as a minor decline in the short-term stock price. There is fresh demand in the low to mid 180's, and even if it falls below our target of 187 (very possible), it will likely bounce back into a mid-range demand zone.
I'd short it with or without earnings tomorrow.
MMM:NYSE Bullish Shark MMM Bullish Shark
Market: MMM
Time Frame: 240
Predicted Direction: long
I will order pending buy stop at @192.11
goal @204,35
SL @182.89
MMM updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
Dow Stocks 3M (MMM)A bit more volume traded at higher level, some more tested supports and resistances
VPVR only checked at the monthly levels, I don't think daily and weekly will matter to much in the downtrending market
Blue == Monthly
Red == Weekly
Pink == Daily
