3M may rise to 108.70 - 110.40

Our pivot point stands at 98.8.

Our preference

The upside prevails as long as 98.8 is support.

Alternative scenario

The downside breakout of 98.8 would call for 96 and 94.3.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 101.9065 and 100.7366).

Supports and resistances

112.1 **

110.4 *

108.7 **

107

103.31 (USD-last)

99.8

98.8 **

96 *

94.3 **

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