|
|
Advanced TA SearchArchive
- 5/10/2024 -
Sign In to see current Signals. |
3M Company (MMM) Technical Analysis
|
 |
| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was a second consecutive positive week for the 3M Company (MMM). During the week, the MMM gained 1.78 points, or 1.83%, and closed at 98.93 on Friday, May 10, 2024. Weekly volume was -7% 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 80.97 and resistance is at 162.44. 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 price is near the trend resistance line (100.40). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line 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 April 5, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 January 2, 2024 at 110.66 and reached 88.23 on April 1, 2024. MMM lost 22.43 points, or 20.27%, in 90 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 84.80 and resistance is at 108.25. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See MMM daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 daily MACD line is above its signal line since April 23, 2024.
| |
|
|