3M may rise to 107.60 - 109.50

Our pivot point stands at 97.5.

Our preference

As long as 97.5 is support look for 107.6.

Alternative scenario

Below 97.5, expect 94.1 and 92.2.

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 100.0915 and 97.4318).

Supports and resistances

111.5 **

109.5 *

107.6 **

105.5

100.77 (USD-last)

98.8

97.5 **

94.1 *

92.2 **

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