3M may rise to 112.60 - 114.70

Our pivot point stands at 101.8.

Our preference

The upside prevails as long as 101.8 is support.

Alternative scenario

Below 101.8, expect 98.1 and 96.1.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 97.5175 and 92.8122).

Supports and resistances

117 **

114.7 *

112.6 **

110.4

105.21 (USD-last)

103.2

101.8 **

98.1 *

96.1 **

Number of asterisks represents the strength of support and resistance levels.