TMCnet News
Next Resistance Level for 3M (MMM) is $100.45Jan 25, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of 3M (NYSE:MMM) opened today above their pivot of $99.43 and have already reached the first level of resistance at $100.06. Analysts will be watching for a cross of the next upside pivot targets of $100.45 and $101.47. 3M (NYSE:MMM) has potential upside of 6.4% based on a current price of $100.46 and analysts' consensus price target of $106.93. The stock should find initial support at its 50-day moving average (MA) of $93.06 and further support at its 200-day MA of $90.40. In the past 52 weeks, shares of 3M have traded between a low of $81.98 and a high of $100.76 and are now at $100.46, which is 23% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.7%. SmarTrend recommended that subscribers consider buying shares of 3M on November 29th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $91.24. Since that recommendation, shares of 3M have risen 9.2%. We continue to monitor MMM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |