3M may rise to 107.30 - 109.50

Our pivot point is at 96.4.

Our preference

As long as 96.4 is support look for 107.3.

Alternative scenario

The downside breakout of 96.4 would call for 92.7 and 90.5.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 99.295 and 94.2005).

Supports and resistances

111.8 **

109.5 *

107.3 **

105

99.67 (USD-last)

97.8

96.4 **

92.7 *

90.5 **

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