pool adsWhy Investors in 3m $MMM Consider Price Action to be a Tell
A tell is a precursor of a stock's next move, and investors in 3m (NYSE: MMM) look for these indicators all the time. the good news is, tells are there for investors to see every day. For example, we have provided this data for MMM in the trading plans and summary table offered below. The tell is described there, for you to review. 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 | 180.65 |
| P2 | 197.98 | 197.64 | 187.50 |
| P3 | 199.24 | 199.93 | 194.18 |
Support and Resistance Plot Chart for MMM
Long Term Trading Plans for MMM
April 20, 2021, 11:30 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 194.18, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 193.62 to protect against excessive loss in case the stock begins to move against the trade. 194.18 is the first level of support below 198.81, and by rule, any test of support is a buy signal. In this case, if support 194.18 is being tested, a buy signal would exist.
MMM - (Short) Resistance Plan
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
Blue = Current Price
Red= Resistance
Green = Support
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