3M may rise to 141.90 - 144.20

Our pivot point stands at 130.4.

Our preference

As long as 130.4 is support look for 141.9.

Alternative scenario

The downside breakout of 130.4 would call for 126.5 and 124.2.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading under its 20 day moving average (135.0285) but above its 50 day moving average (130.8894).

Supports and resistances

146.5 **

144.2 *

141.9 **

139.6

134.69 (USD-last)

131.8

130.4 **

126.5 *

124.2 **

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