3M may rise to 109.80 - 111.40

101 is our pivot point.

Our preference

The upside prevails as long as 101 is support.

Alternative scenario

The downside breakout of 101 would call for 98.4 and 96.9.

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 trading above both its 20 and 50 day moving average (respectively at 102.6635 and 101.6094).

Supports and resistances

113 **

111.4 *

109.8 **

108.3

103.25 (USD-last)

102

101 **

98.4 *

96.9 **

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