3M may rise to 147.60 - 155.20

Our pivot point is at 113.3.

Our preference

The upside prevails as long as 113.3 is support.

Alternative scenario

The downside breakout of 113.3 would call for 100.6 and 93.1.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 115.7455 and 106.9498).

Supports and resistances

162.9 **

155.2 *

147.6 **

140

124.17 (USD-last)

118.4

113.3 **

100.6 *

93.1 **

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