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calebgsmith2000

MMM short after failing to break above 200 ema on Day candles

Short
3M Company (BATS:MMM)  
calebgsmith2000 Updated   
BATS:MMM   3M Company
Technical Indicators Trend Analysis
3
1
indicator trendanalysis
MMM has constantly failed to hold above the 200 ema on the day candles. I will be taking small positions averaging in. If there are a few open and closes above the 200 ema I will cut losses. Buying 100 and 95 puts for February
Comment:
price is holding above the 200 ema. Watching closely and will be doubling down if we can get a flush below, or I will sell if we continue to find support on the 200 ema. I am a little concerned with this short based on the overall markets bullishness right now, but i have to stick to my technical and see that it has been getting rejected here for months now.
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