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Advanced TA SearchArchive
- 4/26/2024 -
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3M Company (MMM) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the 3M Company (MMM). During the week, the MMM gave back -0.44 points, or -0.48%, and closed at 91.83 on Friday, April 26, 2024. Weekly volume was -10% below average.
MMM is a member of Industrials Sector. Industrials is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See MMM long-term trend chart]
A long-term downtrend had started on January 26, 2018 at 259.77 and reached 85.35 on October 23, 2023. MMM lost 174.42 points, or 67.14%, in 299 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 81.28 and resistance is at 163.05. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a long-term trend.
 Medium-term trend: [See MMM medium-term trend chart]
A medium-term downtrend had started on May 10, 2021 at 208.95 and reached 85.35 on October 23, 2023. MMM lost 123.60 points, or 59.15%, in 128 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 73.85 and resistance is at 101.26. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See MMM weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since April 5, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See MMM short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 109.19 and reached 88.23 on April 1, 2024. MMM lost 20.96 points, or 19.20%, in 11 days. The chart has formed a Symmetric Triangle chart pattern.
 Daily Technical Indicators: [See MMM daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
The price touches the lower Bollinger Band. The distance between the Bollinger Bands is falling, and it was 3.96% on Friday. It is 70.23% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
 Candlestick pattern: [See MMM candlestick chart pattern]
On Friday the chart has formed a Bearish Downside Tasuki Gap Candlestick pattern. This is a rare continuation formation that appears in a strongly downward moving market. The reliability of the Bearish Downside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Downside Tasuki Gap Candlestick pattern during the last week.
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