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.



You May Also Like

Related Analysis
  1. Stock Analysis

    Celgene's $1 Billion Deal to Fight Cancer

  2. Stock Analysis

    The Fall of the Chinese Stock Exchange and its Impact on Alibaba, Youku Tudou, and ...

  3. Stock Analysis

    Obamacare Affirmed - What's the Investing Impact?

  4. Stock Analysis

    Sarepta Therapeutics One Step Closer to Drug Approval

  5. Stock Analysis

    Lions Gate to Bring Iconic Game to the Big Screen

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!