3M may rise to 109.50 - 112.00

Our pivot point is at 95.3.

Our preference

As long as 95.3 is support look for 109.5.

Alternative scenario

The downside breakout of 95.3 would call for 91.1 and 88.8.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 100.5055 and 96.1379).

Supports and resistances

114.5 **

112 *

109.5 **

107

100.86 (USD-last)

96.8

95.3 **

91.1 *

88.8 **

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