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.
Playing Trading Simulator Game: If it gaps down (opens lower than yesterday's close) we may get panic selling, which will drive the price down.
Just like on many other stock charts, the 3M has begun a decline because of encountering a resistance line of a long term trend (yellow line). The trend is best observable on the weekly chart. (Too bad that the resulting decline in a short term channel down pattern (black lines) erased the profits created by the beat earnings.) Before you read on, note that I am...
You wouldn't short a preferred; you would buy it. Good chance to enter one of the best industrials out there. What I see is technical correction and then up. I'm only trading the latter though.
It took over 3 months to build a new high. Now we got it and may face more new highs.
I like the heavy volume comming in, going to get in above purple line. Want to see it move a bit sideways then break with strong candle.
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...
2214,75 is the Level to watch. Above that Level a stoppbuy could be installed --> tp 20/222
Last Friday, MMM (daily and 1' charts) seems to have finished a "Minute"-wave 4 correction as a "Running ZigZag". Next 1,618 Target = 211,68 for Monday and 219,65 for the coming 2 weeks.