3M Co

By root | March 11, 2008 AAA

For today's chart we've chosen to take a look at 3M Co (NYSE:MMM) because it is trading below several influential levels of resistance. As you can see from the chart below, the bears have dominated the direction of the stock since the price broke below the ascending trendline in early January. We expect that the selling pressure will continue and it wouldn't be surprising to see technical traders set their short-term targets near the January low of $75.

We'll maintain a bearish outlook on this stock until the price is able to break above the previous swing high of $81.50.



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