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3M Co Set to Possibly Rebound After Yesterday's Selloff of 7.01%

Mar 23, 2020 (SmarTrend(R) News Watch via COMTEX) --
3M Co (NYSE:MMM) traded in a range yesterday that spanned from a low of $116.11 to a high of $128.40. Yesterday, the shares fell 7.0%, which took the trading range below the 3-day low of $122.71 on volume of 2.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of 3M Co on January 28th, 2020 by issuing a Downtrend alert when the shares were trading at $168.70. Since that call, shares of 3M Co have fallen 26.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, 3M Co share prices have been bracketed by a current low of $116.11 and a high of $219.75 and are now at $116.13. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 2.8%.

Write to SmarTrend at cs@mysmartrend.com

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