3M may rise to 107.70 - 109.60

Our pivot point stands at 98.1.

Our preference

As long as 98.1 is support look for 107.7.

Alternative scenario

The downside breakout of 98.1 would call for 94.7 and 92.8.

Comment

The RSI is above 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 100.494 and 98.422).

Supports and resistances

111.6 **

109.6 *

107.7 **

105.8

101.45 (USD-last)

99.3

98.1 **

94.7 *

92.8 **

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