CFD Trading –Sell 3M Company (MMM.NYS) @ $118.00. Stop @ $123.60 and Target @ $106.20.

Three M Company Stock Code MMM.NYS

Outlook

Price tested the lower edge of the cloud two days ago but was unable to move above the cloud, keeping the bearish outlook intact. Conversion and Base lines had a bearish crossover, hinting at a bearish price trend. Lagging Span is below price of 26 days ago and below the cloud, confirming the bearish price trend. MACD is bearish with both lines below the zero line. We think price is likely to move lower to the previous price low at $106.20 in the next 2-3 weeks.

Strategy                  

$118.00              Sell

$106.20              Price Target

$123.60              Risk Management Stop

3 weeks              Trade Duration

CFD Trading – Buy 3M Company (MMM.NYS) @ $132.98. Stop @ $124.40 and Target @ $151.65.

3M Company Stock Code MMM.NYS

Outlook

Price broke and closed above the cloud in the previous trading session, changing the chart outlook to bullish. Conversion and Base lines had a bullish crossover earlier, hinting at a bullish price trend. Lagging Span is above price of 26 days ago but is below the cloud at the moment. MACD is bullish with both lines above the zero line. We think price is likely to move higher to the next price resistance at $151.68 in the next 2-3 weeks.

Strategy                  

$132.98              Buy

$151.65              Price Target

$124.40              Risk Management Stop

3 weeks              Trade Duration

CFD Trading – Sell 3M Company (MMM.NYS) @ $166.60. Stop @ $173.40 and Target @ $154.80

3M Company Stock Code MMM.NYS

Outlook
Price dropped and closed below the cloud last Friday which could be a sign of a possible bearish trend moving forward. Conversion line and Base line had a bearish crossover confirming the bearish trend. Lagging Span is below price of 26 days ago but is above the cloud at the moment.  MACD is bullish but has a bearish crossover and is moving lower, hinting of a bearish price trend ahead.

Strategy                  
$166.60              Short Sell
$154.80              Price Target
$173.40              Risk Management Stop
3 weeks              Trade Duration