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Uptrend ExhaustionArchive
- 1/3/2025 -
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3M Company (MMM) Technical Analysis
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| Summary:
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| | It was the negative week for the 3M Company (MMM). During the week, the MMM gave back -0.30 points, or -0.23%, and closed at 129.90 on Friday, January 3, 2025. Weekly volume was -44% below average.
 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 75.79 and resistance is at 152.41. 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 uptrend had started on October 23, 2023 at 85.35 and reached 141.34 on October 22, 2024. MMM gained -55.99 points, or -65.60%, in 52 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 93.30 and resistance is at 148.90. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See MMM weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 25, 2024. Use the following link to access a MACD help.
 Short-term trend: [See MMM short-term trend chart]
A short-term uptrend had started on December 18, 2024 at 125.40 and reached 131.60 on January 2, 2025. MMM gained -6.20 points, or -4.94%, in 15 days. The price is now at the 27.42% retracement level.
Daily Technical Indicators: [See MMM daily technical indicators chart]
Daily technical indicators are neutral. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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.
The daily MACD line is above its signal line since December 24, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 5.42% on Friday. It is 55.50% 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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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