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Mmmtrading

3M: Higher High ExpectedAt the start of the year, MMM continued to rise higher before the rally temporarily transitioned into a consolidation phase. February brought slight downward pressure, but after a brief spike back to $141 last week, buying interest returned noticeably. This triggered a strong upswing, with the stock gaining nearly 10% in just a few trading days. As a result, we have identified an internal five-wave structure within the turquoise wave 5 and now primarily assume that the magenta wave is already unfolding. This wave should extend further upward, marking the completion of the broader magenta wave (1). Afterward, we anticipate a significant wave (2) correction, which could also begin earlier. In this 35% likely alternative scenario, the stock would experience a premature sell-off below the $131.40 support, with wave alt.(2) eventually reaching our magenta Target Zone between $106.04 and $86.20.
NYSE:MMM
by MarketIntel
New LogoAs you all have probably seen, we have changed our logo and name! Shortly, we will go online with our website on which were are going to provide you with free daily market updates - more than one per day. But for the time being, let us look at the 3M chart where we can see an increasingly strong bullish impulse. It is important that the pressure is kept high until we confidently cross the resistance at $117.80. There, we should see a small setback, before the bulls take over again. It is important that the course remains above $92.38.
NYSE:MMMLong
by MarketIntel
3M: I Want to Break Free 💪3M wants to break free from the compound consisting of the red zone between $93.83 and $107.35 and the green zone between $92.38 and $105.93, where it has finished wave (II) in white. To achieve this, the share has already developed convincing upwards momentum, which should soon carry it out of the zone-compound and above the resistance at $117.80. There, 3M should complete wave (3) in red before a counter movement should take it back below this mark. As soon as wave (4) is concluded, though, 3M should resume the overarching ascent. However, there is still a 33% chance that the share could lose its momentum and tumble below the support at $92.38. In that case, we would have to reckon with a new low in the form of wave alt.(II) in white first before a sustainable upwards movement can start.
NYSE:MMM
by MarketIntel
1
3M is Near Bottom Valuation3M stock is considered very cheap as it is traded at 3.5x PB ratio. Even though the company has an decreasing future net income, it still has pretty strong revenue. 3M price is moving downward faster than it's strong fundamental. So it left room for potential upward gain, as it is now considered cheap in term of financial valuation. What is needed by the company is just a reduction of the cost and operate more efficiently. It that could be done I think 3M price could bounce up strongly. We are using Stock Value Rainbow to evaluate stock valuation based on four valuation metrices: book value, earning, dividend and cash flow. The rainbow color depict the multiples values of all these four factors sum up together. The rainbow above the gray lines represent 1x, 2x, 3x, .., 10x of stock value. While rainbow below the gray line represent 0.8x, 0.6x, 0.4x, 0.2x stock value. The higher the value the more expensive the stock, the lower the value the cheaper it is according to these fundamental or financial valuation metrices.
NYSE:MMM
by danny_peanuts
GBPUSD H4 short order Fundamentals: CPI 7.7, better than expectations DXY falls US dollar weakens Non-U.S. Currencies go up *Technical : Price has reached previous HTF supply zone also accumulated liquidity before If there is a clear reversal signal inside the red block (can be found in LTF) Could be bear engulfing, downside trend... Consider placing short However, with the recent sharp weakening of the U.S. dollar, and just broke through downside resistance line in HTF RR isn't that much It is safer to wait for a clear signal to appear before entering Entry TP SL are given on chart More conservative, can manually close order at TP1 All are just personal opinion, not investment advice!
by Aki_0123
ETHUSDT H1 Bullish targetsame as bitcoin Continue to rise after breaking the pressure of the descending parallel channel long position, next TP look at 1688 then 1715 Only after breaking through those two points, will have more momentum to hit supply zone ( lower edge - 1755 ) crypto market is usually less volatile during weekend It may be impacted after stock market opens on Monday Carefully consider risks no matter you already hold or consider placing any order. All are personal opinions, not investment advice! Enjoy the trade!
Long
by Aki_0123
BTCUSDT H1 Hi if price backtests demand zone and appears bullish signal, could be bullish engulfing, morning star, hammer...so on entry - demand zone when signal appears SL - lower edge of demand zone which is given on chart can set a bit more space for preventing fake move TP - 20798 It's supposed to be an uptrend parallels channel but faces a bit of selling pressure, so TP at the point which meets the resistance line which is given on chart as well all are just personal opinions, not investment advice! any suggestions and feedback are welocme!
Long
by Aki_0123
4
GBPUSD H1 potential short positionHi As chart If price breaks out of the below supply zone (red block below) Uptrend has momentum to continue rising But it has possibilities to meet selling pressure since there is a resistance zone that hasn't been successfully broken since 9/22 decline. When price hits the upper supply zone and there is a "clear bearish singal" could be bearish engulfing, evening star... so on I'll consider placing short position for short term After all, it has gone up for a while RR 1:2 but depending on the situation DXY drops and there is a new UK minister, unsure what policy he will do on currency. UK also took office as a new prime minister, and he doesn't know what policy he will have on the currency. All are personal opinions, not investment advice, all suggestions and feedback are welcome!
Short
by Aki_0123
BTCUSD H1 Potential short positionpersonally tend to place short position at the higher supply zone (is given on chart) The finance market's volatility also impacts cryptocurrencies e.g., DXY So place orders only if apparent signal appears when price hit supply zone and appears bearish signal then try short position (could be bearish engulfing, evening star...so on) All data are given on chart Just personal sharing, not investment advice. Any suggestions and feedback are welcome!
Short
by Aki_0123
9
EURJPY H4 potential short positionAfter retracement, price goes upside and is close to previous H(9/22) but the upward momentum has slowed down and it is close to HTF supply zone( is given on chart) which is also 8 years high If the price goes up to supply zone and bearish signal appears, consider entering the short position SL: 145.8 TP1: 143.03 TP2: 142.60 TP3: upper edge of the demand zone which is141.1 (short is still against the current trend, please evaluate carefully) all are personal opinions, not investment advice. any suggestions and feedback are welcome!
by Aki_0123