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Watch for 3M Co to Potentially Pullback After Gaining 1.17% Yesterday

Oct 16, 2020 (SmarTrend(R) News Watch via COMTEX) --
3M Co (NYSE:MMM) traded in a range yesterday that spanned from a low of $169.21 to a high of $172.07. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $169.68 on volume of 1.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of 3M Co on August 11th, 2020 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $164.84. Since that recommendation, shares of 3M Co have risen 3.7%. We continue to monitor MMM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, 3M Cohas traded in a range of $0.00 to $182.54 and are now at $0.00. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

Write to SmarTrend at cs@mysmartrend.com

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