One of today's top losers is MMM (NYSE), after the results came out the sell off began, even thou the earnings met projections. There is still some room for the downside, I will keep an eye out for this one and if it hits the trend line it may be worth getting into it, on a ride back to 240 levels.
I actually am not doing anything with it. Just sharing. This is the massive pic of the 3M stock. Note that there is a large scale channel down pattern. However, I think that it will get squeezed in between the resistance of that channel down pattern and the Fibonacci retracement level, which is shown on the chart.
I did a discounted cash flow valuation on 3m assuming a revenue growth rate of 5%, in line with 10, 5, and 3 year historical averages and it produced a valuation of $135. A 41% downside valuation... When I saw this I questioned the legitimacy, but played around with revenue growth rates and found, that, to justify it's current valuation of $236.55, MMM would need...
MMM Seems breaking down from an upward channel formation & also breaking down below 200 days moving average. It has fair amount of insider selling. We think it will continue downward from here. To play this we Could consider July $200 Puts (currently 2.10) * Trade Criteria * Date First Found- March 23, 2018 Pattern/Why- - Upward channel breakdown short Entry...
MMM Seems breaking down from an upward channel formation & also breaking down below 200 days moving average. It has fair amount of insider selling. We think it will continue downward from here. To play this we Could consider July $200 Puts (currently 2.10) * Trade Criteria * Date First Found- March 23, 2018 Pattern/Why- - Upward channel breakdown short ...
3M just ranging at the moment, but where to break the triangle? What do you think about it? Learn how to beat the market as Professional Trader with an ex-insider! Have a good Trading Week! Cream Live Trading, Best Regards!
This chart shows that a MACD crossover will happen soon and recent price action is positive. This follows the Dow and could see resistance at 240. However, this company has better than expected earnings and strong growth. Therefore I am long with calls. Up 70% in three days. Target is 249. Happy hunting.
LITECOIN GO UP.. BECAUSE IT EXCEED THE DOWN TREND LINE
Gold will be creating a head and shoulders on the Day chart. Here is the setup to sell the right shoulder.
Too early in the week to say, but it's a valid prediction.
3M's earning report came up a bit short, however they have had continuous growth. Looking at this trend in the long term I believe we've hit a temporary top. I believe we will test sub $190 prices before we potentially continue the bull trend. I also don't think it's unreasonable for it to tap $175-$180 although I do think that's unlikely. I would look to go...
$MMM rally into thin air but ABCD completed ..Short zone here upto upper bb and rising resis line.
After 3 levels of Drop, A " W" was formed and the uptrend was the new trend. EURUSD only did 2 Levels of rise which tells that there is a high probability chance of it finishing off another Level to the upside, However i do Expect a Stop hunt before going up again.