3M may fall to 123.40 - 125.20

Our pivot point is at 144.

Our preference

Under pressure below 144.

Alternative scenario

The upside breakout of 144 would call for 147.4 and 149.4.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 135.5285 and 132.8384). Finally, 3M is trading below its lower daily Bollinger band (standing at 132.41).

Supports and resistances

149.4 **

147.4 *

144 **

142.6

131.73 (USD-last)

127

125.2 **

123.4 *

121.4 **

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