pool adsChanges to the Price of 3m $MMM Influence Investor Perception
Often, the action in a stock is based on investors perceptions, but it can be a circular event. Not only is the price action representative of perception, but it can influence perception too. In the case of 3m (NYSE: MMM) we can see this in the charts. The data for MMM in the summary table and trading plans below are intended to provide an example of how to extrapolate this. Our data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Neutral | Neutral | Strong |
| P1 | 0 | 0 | 171.41 |
| P2 | 175.66 | 174.92 | 179.21 |
| P3 | 178.00 | 178.86 | 185.86 |
Support and Resistance Plot Chart for MMM
Long Term Trading Plans for MMM
February 23, 2021, 4:15 am 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 171.41 with an upside target of 179.21. This data also tells us to set a stop loss @ 170.91 to protect against excessive loss in case the stock begins to move against the trade. 171.41 is the first level of support below 176.12 , and by rule, any test of support is a buy signal. In this case, support 171.41 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 179.21 with a downside target of 171.41. We should have a stop loss in place at 179.73though. 179.21 is the first level of resistance above 176.12, and by rule, any test of resistance is a short signal. In this case, if resistance 179.21 is being tested, so a short signal would exist.
Blue = Current Price
Red= Resistance
Green = Support
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