MMM Technical Analysis - 3M CO

Technical Rating and Analysis

We assign a technical rating of 3 out of 10 to MMM. MMM has been an average performer in the overall market. We also notice some doubts in the very recent evolution, but in the medium term things are still fine.

In the last month MMM has a been trading in the 150.43 - 162.10 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been consolidating recently, but much resistance may still be present above.

MMM is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MMM is lagging the market slightly.

MMM has an average volume of 3339480 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.

When compared to the yearly performance of all other stocks, MMM outperforms 55% of them, which is more or less in line with the market.

MMM is an average performer in the Industrial Conglomerates industry, it outperforms 50% of 7 stocks in the same industry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although the technical rating is bad, MMM does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 152.80, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

123.50

161.81

3 important support areas can be observed.

A support zone ranging from 152.39 to 153.26. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 142.21 to 144.40. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @124.75 from a horizontal line in the weekly time frame.

2 important resistance areas can be observed.

A resistance zone ranging from 153.84 to 155.09. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A resistance zone ranging from 158.73 to 160.21. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for MMM is up.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for MMM is down.
ChartMill Relative Strength	55.33	NEUTRAL	MMM is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of MMM is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of MMM is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of MMM is above the rising SMA(200).
Relative Strength Index/RSI (14)	45.14	NEUTRAL	The RSI value for MMM is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.43	NEGATIVE	The MACD value suggests MMM has a negative trend.
Stochastics (14,3)	18.29	OVERSOLD	The low Stochastics value suggests MMM may be oversold.
Average True Range in percent/ATR (20)	2.23	MEDIUM VOLATILITY	The ATR as a percentage value for MMM suggests some volalility.
Average Directional Index/ADX (14)	11.4	NEGATIVE	The low ADX value for MMM suggests a weak or negative trend.