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Tickers in this Article: MMM
New York, July 11th (TradersHuddle.com) - Shares of 3M Company (NYSE:MMM) ended the trading session lower by $0.21 or -0.24% from its previous close. 3M's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

3M Co.(NYSE:MMM) conducts operations in diversified areas like telecommunications, industrial, consumer and office, health care, safety, and other markets. The Company's businesses share technologies, manufacturing operations, brands, marketing channels, and other resources. 3M serves customers in countries located around the world, with products like Post-it Notes, Nexcare bandages, and Scotch tapes. The company was formerly known as Minnesota Mining and Manufacturing Company and i was founded in 1902, with its headquarters in St. Paul, Minnesota.

3M's current stock range is determined by calculated support defined at $82.95 and by the resistance level at $89.95, which should be used by traders planning their next move.

If traders want to establish a position in 3M, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor 3M for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:

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