3M may rise to 109.40 - 111.80

Our pivot point stands at 97.1.

Our preference

As long as 97.1 is support look for 109.4.

Alternative scenario

The downside breakout of 97.1 would call for 92.9 and 90.5.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 100.592 and 96.3774).

Supports and resistances

114.4 **

111.8 *

109.4 **

106.8

100.66 (USD-last)

98.7

97.1 **

92.9 *

90.5 **

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