3m $MMM Technical Update
The 3m (NYSE: MMM) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for MMM, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Review the Trading Plans:
Long Term Trading Plans for MMM
June 16, 2019, 4:30 pm ET
The Technical Summary and Trading Plans for MMM help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this MMM Report.
MMM - (Long) Support Plan
The technical summary data tells us to buy MMM near 157.37 with an upside target of 185.81. This data also tells us to set a stop loss @ 157.11 to protect against excessive loss in case the stock begins to move against the trade. 157.37 is the first level of support below 166.69 , and by rule, any test of support is a buy signal. In this case, support 157.37 would be being tested, so a buy signal would exist.
MMM - (Short) Resistance Plan
The technical summary data is suggesting a short of MMM as it gets near 185.81 with a downside target of 157.37. We should have a stop loss in place at 186.07 though. 185.81 is the first level of resistance above 166.69, and by rule, any test of resistance is a short signal. In this case, if resistance 185.81 is being tested, so a short signal would exist.