MMM has entered a downtrend on its monthly time frame.
Downtrend was confirmed with a lower high in June of 2021, followed by a retest of strong support at 108 a share (which is also where the 200-day SMA currently sits).
3M may get a short-term bounce due to oversold reads on indicators, but this stock is clearly in a downtrend. The next big move in the medium term will be to the 62-69 support zone. Notice how there's virtually no support between 108-69.
Good luck! This is not financial advice.
Downtrend was confirmed with a lower high in June of 2021, followed by a retest of strong support at 108 a share (which is also where the 200-day SMA currently sits).
3M may get a short-term bounce due to oversold reads on indicators, but this stock is clearly in a downtrend. The next big move in the medium term will be to the 62-69 support zone. Notice how there's virtually no support between 108-69.
Good luck! This is not financial advice.
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이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.