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SmarTrend Watching for Potential Pullback in Shares of 3M Co After 1.62% Gain

Nov 16, 2020 (SmarTrend(R) News Watch via COMTEX) --
3M Co (NYSE:MMM) traded in a range yesterday that spanned from a low of $170.19 to a high of $173.31. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $170.74 on volume of 867,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of 3M Co have traded between a low of $114.04 and a high of $182.54 and are now at $172.25, which is 51% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in 3M Co. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of 3M Co in search of a potential trend change.

Write to SmarTrend at cs@mysmartrend.com

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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com

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