MMM
3M upwards continuation trend3M upwards continuation trend. Buy the dips in a strong up trending pattern.
MMM shares Sell IdeaMMM shares Sell Idea @Weekly Supply Zone (216.86 - 221.520)
Sell Limit: 216.81
Stop Loss: 222.59
Take Profit: 196.27
3M has more room for downsideOne of today's top losers is MMM (NYSE), after the results came out the sell off began, even thou the earnings met projections.
There is still some room for the downside, I will keep an eye out for this one and if it hits the trend line it may be worth getting into it, on a ride back to 240 levels.
Large scale look at MMMI actually am not doing anything with it. Just sharing.
This is the massive pic of the 3M stock. Note that there is a large scale channel down pattern. However, I think that it will get squeezed in between the resistance of that channel down pattern and the Fibonacci retracement level, which is shown on the chart.
MMM ShortI did a discounted cash flow valuation on 3m assuming a revenue growth rate of 5%, in line with 10, 5, and 3 year historical averages and it produced a valuation of $135. A 41% downside valuation... When I saw this I questioned the legitimacy, but played around with revenue growth rates and found, that, to justify it's current valuation of $236.55, MMM would need to see top-line growth of 12% YoY.
Leave a comment and let me know what your thoughts on MMM are, for now I'm short them, but would love to hear some other view points.
MMM - Upward channel breakdown short from $221.87 to $184.70MMM Seems breaking down from an upward channel formation & also breaking down below 200 days moving average. It has fair amount of insider selling. We think it will continue downward from here.
To play this we Could consider July $200 Puts (currently 2.10)
* Trade Criteria *
Date First Found- March 23, 2018
Pattern/Why- - Upward channel breakdown short
Entry Criteria- $221.87
Exit Criteria- 1st Target $200.73 & 2nd Target $184.70
Stop Loss Criteria- $238.57
Indicator Notes- Negative Twiggs money flow index
Special Note- Insider selling a few 29-36% selling. Could consider July $200 Puts (currently $2.10)
Please check back for Trade updates. (Note: Trade update is little delayed here.)
MMM - Upward channel breakdown short from $221.87 to $184.70MMM Seems breaking down from an upward channel formation & also breaking down below 200 days moving average. It has fair amount of insider selling. We think it will continue downward from here.
To play this we Could consider July $200 Puts (currently 2.10)
* Trade Criteria *
Date First Found- March 23, 2018
Pattern/Why- - Upward channel breakdown short
Entry Criteria- $221.87
Exit Criteria- 1st Target $200.73 & 2nd Target $184.70
Stop Loss Criteria- $238.57
Indicator Notes- Negative Twiggs money flow index
Special Note- Insider selling a few 29-36% selling. Could consider July $200 Puts (currently $2.10)
Please check back for Trade updates. (Note: Trade update is little delayed here.)
3M just ranging3M just ranging at the moment, but where to break the triangle?
What do you think about it?
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3M-LongThis chart shows that a MACD crossover will happen soon and recent price action is positive. This follows the Dow and could see resistance at 240. However, this company has better than expected earnings and strong growth. Therefore I am long with calls. Up 70% in three days.
Target is 249. Happy hunting.
GOLD MovementGold will be creating a head and shoulders on the Day chart. Here is the setup to sell the right shoulder.
3M, Good time to buy or just getting started?3M's earning report came up a bit short, however they have had continuous growth. Looking at this trend in the long term I believe we've hit a temporary top. I believe we will test sub $190 prices before we potentially continue the bull trend. I also don't think it's unreasonable for it to tap $175-$180 although I do think that's unlikely.
I would look to go long around the $185 mark with a target of $205, it could hit $225 if trend continues.
$MMM rally into thin air$MMM rally into thin air but ABCD completed ..Short zone here upto upper bb and rising resis line.
