3M may rise to 151.20 - 159.00

Our pivot point is at 114.5.

Our preference

The upside prevails as long as 114.5 is support.

Alternative scenario

The downside breakout of 114.5 would call for 101.8 and 94.2.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 108.9545 and 104.0134).

Supports and resistances

166.8 **

159 *

151.2 **

143.5

126.47 (USD-last)

119.5

114.5 **

101.8 *

94.2 **

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