3M may rise to 107.50 - 109.50

Our pivot point is at 96.7.

Our preference

As long as 96.7 is support look for 107.5.

Alternative scenario

The downside breakout of 96.7 would call for 93.3 and 91.4.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 100.55 and 97.065).

Supports and resistances

111.6 **

109.5 *

107.5 **

105.5

100.9 (USD-last)

98

96.7 **

93.3 *

91.4 **

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