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