3M may rise to 109.50 - 111.60

Our pivot point stands at 99.

Our preference

The upside prevails as long as 99 is support.

Alternative scenario

The downside breakout of 99 would call for 95.8 and 93.7.

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 trading above both its 20 and 50 day moving average (respectively at 100.2365 and 98.0042).

Supports and resistances

113.5 **

111.6 *

109.5 **

107.5

102.99 (USD-last)

100.4

99 **

95.8 *

93.7 **

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