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$MMM Parallel Down Trend About To Reverse NYSE:MMM Parallel Down Trend About To Reverse? As this bull market progress you get sector rotation. For example profit taking in big Tech stocks. I have seen that consistently since this bull market started back in 10-13-2022, here is an example of a consumer products stock that pays a nice dividend yield. A bearish to bullish reversal is a technical analysis pattern that occurs when the price of a stock or other asset moves from a downtrend to an uptrend. This can be a sign that the market is about to change direction and start moving higher.
NYSE:MMMLong
by AlgoTradeAlert
1
Daily Market Analysis - WEDNESDAY JULY 12, 2023Greetings, traders! Welcome back to our daily Market Analysis. Today, we have gathered the top news and interesting fundamental analysis for your consideration. Let's dive in and stay informed! Key events: New Zealand - RBNZ Interest Rate Decision USA - Core CPI (MoM) (Jun) USA - CPI (YoY) (Jun) USA - CPI (MoM) (Jun) Canada - BoC Interest Rate Decision USA - Crude Oil Inventories The energy and large technology sectors were the primary contributors to Tuesday's gains in the stock market, while investors awaited the forthcoming inflation reports with bated breath. The rise in value of the Dow Jones Industrial Average was 317 points, or 0.9%, while the rise in value of the S&P 500 was 0.7% and the rise in value of the Nasdaq was 0.6%. DJI indice daily chart SPX500 indice daily chart As a result of an improved demand outlook, oil prices skyrocketed, which provided a boost to the energy sector. There is a growing expectation that the oil market will tighten in the second half of this year. This expectation is supported by falling crude production as well as Saudi Arabia's commitment to cutting output by one million barrels per day beginning in July. The sentiment surrounding energy stocks was further buoyed by reports of potential stimulus measures in China, which is the largest importer of energy in the world. The stock of 3M Company (NYSE: MMM), which was upgraded by Bank of America to Neutral from Underperform, increased by almost 5% as a result of the upgrade. It is anticipated that the manufacturer of industrial and consumer products will benefit from the conclusion of legal issues, which is anticipated to enhance the performance of the company. A settlement agreement was reached between 3M and the government last month to resolve allegations that the company contaminated public water systems with PFAS, which are also known as forever chemicals. MMM stock daily chart After receiving an upgrade from Hold to Buy from Jefferies, JPMorgan (NYSE: JPM) led the banking sector higher just as earnings season was about to begin on Friday. As justifications for the upgrade, Jefferies pointed to the robustness of JPMorgan's balance sheet as well as the company's potential for earnings. Gains were also seen by regional banks, which have come under increased scrutiny ever since the banking crisis that began earlier this year. After Bank of America reaffirmed its recommendation to buy the company's stock, US Bancorp (NYSE: USB) saw its share price rise by more than 3.5%. US Bancorp is well-prepared to handle sector headwinds, according to Bank of America, and is expected to achieve superior earnings growth and stock performance, according to the statement. JPM stock daily chart Amazon (NASDAQ: AMZN), which benefited from its two-day prime day sales event, stood out as one of the few stocks in the technology sector that was trading in the positive territory. During this time, Microsoft (NASDAQ: MSFT) struggled to make gains, despite the growing optimism surrounding the impending acquisition of Activision by Microsoft for $69 billion. Activision is the company that makes the Call of Duty video game. The attempt by US regulators to temporarily block the deal due to antitrust concerns was rejected by a federal judge in a ruling earlier today. The forthcoming publication of US CPI (Consumer Price Index) data has become the sole focal point of attention for stock futures trading in both the United States and Europe. The majority of speculators are expected to be surprised by the US inflation data, which analysts strongly anticipate will exceed their expectations. AMAZON stock daily chart The change in the Consumer Price Index (CPI) for the United States is expected to be 0.3% month-over-month (m/m), while the change in the CPI year-over-year (y/y), which is the most significant change, is expected to be 3.1%, compared to the previous reading of 4.0%. If the actual number comes close to or matches the forecasted 3.1%, it will be seen as positive news for the market because the inflation target set by the Federal Reserve is 2%. On the other hand, market participants are likely to rejoice if the reading falls below 3.1% because this indicates a significant shift in the trend of inflation. Nevertheless, it is essential to pay close attention to the trajectory that the reading of inflation will take in the future. Although the data that are released today will show a significant drop, which will be driven by tighter monetary policy, an economic slowdown, and lower oil prices, these factors will have less of an influence on the inflation number going forward. As a consequence of this, the gap between the Fed's target and the actual reading might not expand by an additional factor of two from its previous magnitude. GOLD daily chart It is anticipated that the price of gold will be volatile throughout the course of the day. Even though the support level at $1,900 is strong, it may be put to a significant test if the inflation data continues to show no signs of easing. Gold prices would be supported by a sizeable decline in the reading of inflation, which could potentially lead to an attempt to test the $1,950 level. On the other hand, if the reading indicates that inflationary pressures will continue for some time, the price of gold may go up even further. As a result, there is a greater chance that the Federal Reserve will raise interest rates, potentially on more than one occasion.
by FOREXN1
14
3M: I Want to Break Free 💪3M wants to break free from the compound consisting of the red zone between $93.83 and $107.35 and the green zone between $92.38 and $105.93, where it has finished wave (II) in white. To achieve this, the share has already developed convincing upwards momentum, which should soon carry it out of the zone-compound and above the resistance at $117.80. There, 3M should complete wave (3) in red before a counter movement should take it back below this mark. As soon as wave (4) is concluded, though, 3M should resume the overarching ascent. However, there is still a 33% chance that the share could lose its momentum and tumble below the support at $92.38. In that case, we would have to reckon with a new low in the form of wave alt.(II) in white first before a sustainable upwards movement can start.
NYSE:MMM
by MarketIntel
1
✨ NEW: 3M (MMM) ✨ Swing/Position Trade ✨SLO @ 124.50 ⏳ TP1 @ 85.20 TP2 @ 60.00 BLO @ 52.80 ⏳ ADDITIONAL INFO: Based on the fundamental analysis below, I'm anticipating a swing to the upside before price action returns to the downside and continues to drop toward Demand (75D). Once we reach Demand @ ~52.80, I'll hold this equity as a Position Trade up to Major Resistance @ ~175.75. COMPANY REVIEW: 3M makes for a great investment because it is a diversified technology company that produces a wide range of products, including adhesives, abrasives, coatings, electronic materials, industrial tapes, medical supplies, and more. The company has a strong track record of innovation and growth, and it is one of the largest and most respected companies in the world. 3M has announced plans to invest $1 billion in research and development over the next five years. This investment will help the company to develop new products and technologies that will drive future growth. FINANCIAL PERFORMANCE: 3M has consistently generated strong financial results over the past few years. In the most recent fiscal year, the company reported revenue of $33.8 billion and earnings per share of $10.33. 3M's return on equity (ROE) is 36.1%, which is significantly higher than the average for the S&P 500 index. 3M's stock price has been on the rise in recent months. The stock price has increased by over 20% in the past year. This is likely due to a number of factors, including the company's strong financial performance, its positive outlook for the future, and the previously low interest rates environment. VALUATION: 3M's stock is currently trading at a price-to-earnings ratio (P/E) of 10.1. This is below the average P/E ratio for the S&P 500 index, which is 15.7. This suggests that 3M stock may be undervalued. DIVIDENDS: 3M is a dividend-paying company. The company has increased its dividend for 60 consecutive years, which is a testament to its strong financial performance. The current dividend yield is 6.19%, which is higher than the average dividend yield for the S&P 500 index. RISKS: There are some risks associated with investing in 3M stock. (1) The company faces competition from other global manufacturers, (2) it is also exposed to economic downturns related to the technology sector, and (3) the raised interest rates, by the Feds, opposed to 3M's stock price. When interest rates are increased, investors are more likely to lessen their investment in stocks, However, 3M has a strong track record of innovation and growth, which should help it to mitigate these risks. However, it is important to do your own research before making any investment decisions. You should consider your own financial situation and risk tolerance before investing in any stock.
NYSE:MMM
by ProfessorCEWard
3M Position Trade✨ NEW: 3M...UT (3M, 3D) ✨ POSITION TRADE ✨ BLO1 @ 74.34 BLO2 @ 50.99 (Wealth Trade - I may never let this position go) TP1 @ 112.53 (shave 25% from BLO 1) TP2 @ 175.83 (shave 25% from BLO 1) TP3@ 215.82 (shave 25% from BLO 1) 3M Co. is a technology company that creates industrial, safety, and consumer products. They operate under different segments such as Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. Recently, the company has faced a major challenge involving around 260,000 pending lawsuits due to their military earplugs malfunctioning. The outcome of these legal proceedings could greatly impact 3M, either causing severe consequences or presenting a unique investment opportunity. Our team predicts that despite the uncertainty, institutions will likely intervene and purchase 3M's stock as it returns to its established pattern of gradual and steady growth, also known as the company's intrinsic or true value. However, it is important to acknowledge that the future outcome is still subject to change and could sway in either direction. Here is my strategy: I plan to sell 25% of my BLO1 holdings at every take profit point, while keeping the remaining amount for a long-term investment. However, I have no plans to sell any of my BLO2 holdings and will be holding them for the long term. This is commonly referred to as the "diamond hand strategy." Happy Trading‼️
NYSE:MMMLong
by CashFalcon
1
3M Company (MMM) | Technically ready!3M Company (MMM) 3M is a multinational conglomerate that has operated since 1902, when it was known as Minnesota Mining and Manufacturing. The company is well known for its research and development laboratory and it leverages its science and technology across multiple product categories. As of 2020, 3M is organized into four business segments: safety and industrial, transportation and electronics, healthcare, and consumer. Nearly 50% of the company's revenue comes from outside the Americas, with the safety and industrial segment constituting a plurality of net sales. Many of the company's 60,000-plus products touch and concern a variety of consumers and end markets. A quite good dividend stock has arrived at the destination, hopefully :) MMM has come down from its all-time high of more than 60%. So, to buy this you need to make also a bit of work with fundamentals but technically, as said, it has arrived inside a possible buying zone. The technical criteria are: 1. Old resistance back in 2004 to 2012, starts to act as a support level. Yes, you can and actually you have to look back as far as possible to determine the strongest areas on the chart. The world has changed but human psychologic is still the same! 2. Mentioned many times that you have to keep an eye on the round numbers. Here is also the round number $100 and it matches with other criteria. 3. Channel projection, white lines. Typically the price moves inside the channels and sometimes it helps to find a decent support level. Currently, the projection runs nicely through the optimal buying zone. 4. Equal waves (AB=CD) and the D point, which completes the pattern, staying inside the buying zone. 5. All-time Fibonacci Golden ratio 62%. Basically draw from an all-time low to an all-time high and the Golden ratio is also there to add a bit of strength to the possible reversal area. Technically an optimal buying zone could be $80 - $102 First targets $135-$150 Good luck!
NYSE:MMMLong
by VaidoVeek
1
4/3 Watchlist + NotesInitial Notes: Didn't trade on Friday, new month begins, SPY confirmed breakout on weekly, and light economic news coming this week. SPY - (FRIDAY) Unfortunately, my SPY prediction for Friday was off. I underestimated the short term strength of the markets as evident by Friday's big green trend day. I'm not afraid to admit I was wrong on my analysis, because nobody can always perfectly predict the markets, and because ultimately, the markets surprise us once in a while. A good trader knows when they are right, but an even better trader knows when they are wrong. I choose to believe that I was missing info and/or not seeing the bigger picture for Friday's session. Going forward I would like to try to shoot for at least 80% accuracy with my SPY predictions, trades, and general analysis of setups that show up on the scanner. I will document all stats per usual at the bottom of my lists. (MONDAY) Going into Monday, we have a few things to consider. We broke out of the upper trendline on the weekly chart, which is extremely bullish in my opinion. We also had a really strong and big green day friday with little to no upside wick. This tells me that we are looking very bullish just based on the weekly chart breakout, and the strength of the most recent daily candle. My guess is that we will see a push higher than Friday's high, but I am unsure of how much higher SPY can/will go. We are still at risk of short term exhaustion, and therefore, I am skeptical to see if we will see strong continuation or just consolidation/pullback before making the next real move. The most reasonable expectation for tomorrow in my opinion, is a day where we can be green or red, but regardless see a push higher while staying within a 1% range's movement on the day. Id love to create an inside day tomorrow but I sort of doubt we will be that lucky. Weekly targets are set at 415 and 402 respectively. More analysis to come as the week goes on(Apologies for the super long analysis, just had a lot to say with Friday's fail) Watchlist + Bias: SQ - 2-1 Daily and 3-1 Weekly: Slightly Bearish BABA - 2-1 Daily : Bullish LULU - 2-1 Daily : Neutral MMM - 3-1 Weekly: Bullish DOCU - 3-1-1 Weekly: Bullish Main Watch: SQ - Great setup on this one. 3-1 Weekly is the main catalyst I am watching. Would love to play downside on this and get a good entry on a break to the downside tomorrow with the 2-1 setup we have on the daily. My main concern is the bullish strength of the markets currently because another day of bullish movement could invalidate our short entry. I am open to playing both sides, but I would definitely prefer downside as there is better R/R. Main Watch From Previous Watchlist: DOCU: (Status:) Loser (Personally Trade?) No DOCU had a solid setup, but even the best setups can be ruined when the overall markets are incredibly strong in the opposite way as your bias. This was the case for DOCU on friday. What is interesting is that we are now bullish on the daily with DOCU, but still remain in an inside setup on the weekly. Im keeping this on the watchlist for now as I think the weekly breakout could hold a bigger move because DOCU has a pretty large average daily range. FDX - this wasnt a main watch but was something I watched throughout the whole week, Study the weekly and daily chart because although I missed the move, it played out exactly as we had hoped for. Cons if swung from daily entry went from about 3.5 to 5.85. Last Week's Watchlist Stats: 3/5 SPY predictions 3/6 Main Watch Winners Top Winner: NVDA 75%+ Personal Stats: 5/7 on the week (71.4% win rate) Overall: Green week. Happy with the results, but I know we can do way better than that. Green week is a green week though. Lets do it again. Best of luck tomorrow everyone !
AMEX:SPY
by Alanger17
Analyzing the Good and Bad of 3M: Is It a Good Investment?When a company as renowned as 3M encounters difficulties, it's important to take a closer look at what's happening and why. While you may discover good news, there's also a chance you won't, but it's better to stay informed than to regret not paying attention. So, let's examine both the positive and negative aspects of 3M today. On the bright side, 3M has been increasing its dividend for more than six decades, making it one of the elite dividend kings. Additionally, the company's dividend yield of 5.8% is currently on the higher end of its historical range, which is a considerable draw for dividend investors. Moreover, with a consistent dividend growth rate of over 9% year-over-year for the past decade, it's easy to see why people might be interested in investing in the company's stock right now. In terms of traditional valuation metrics like price-to-earnings, price-to-sales, and price-to-book value, 3M remains an attractive investment option. All three metrics are hovering around their five-year averages, making the company a tempting investment opportunity. However, it's important to note that Wall Street rarely shorts stocks without a good reason. Dividends can also help provide insight into the company's performance. While the 10-year annual dividend growth rate for 3M is almost 10%, it's been declining in recent years. The average growth rate for the past five years has been just under 5%, with the average for the last three years being slightly over 1%. Furthermore, the most recent dividend increase was only 0.7%. This suggests that 3M's business has encountered adversity, and growth has slowed down. The most significant challenge 3M currently faces is legal and regulatory issues that won't be easily resolved. The most high-profile legal issue involves lawsuits related to earplugs sold to the military, with the company winning some cases and losing others. Recently, 3M has claimed that most of the plaintiffs aren't actually suffering from hearing loss. However, the lawsuit is expensive and likely to continue for some time. If 3M loses, the defeat could result in multi-billion dollar damages. Additionally, 3M is facing problems associated with producing "everlasting chemicals," which require costly efforts to clean up contaminated environments and may lead to years of litigation. The company plans to phase out production of these chemicals by 2025, which will result in expensive write-offs. This process will be challenging and costly. To make things even more complicated, 3M is planning to separate its medical business, which has long been viewed as a growth platform. Although this move may cause some concern, it would protect the business from liabilities that could impact the rest of the company's operations. Separating the medical business could also result in a higher price from Wall Street than if it were part of 3M. While this could be good news for shareholders, it does add complexity to the situation. Considering the long-term challenges 3M faces, it may not be a suitable investment for risk-averse investors due to the numerous company-specific concerns. However, it may make sense for more aggressive investors willing to take a bet on a company with an investment grade and a market capitalization of $50 billion, despite significant stock declines and legal and regulatory issues. Stocks don't enter the deep value zone for no reason, but investors must be prepared to weather the uncertainty if they decide to invest.
NYSE:MMMShort
by FOREXN1
3
$MMM The best buying opportunityMMM DAILY CAHART shows a buy chance if you want to swing, And here is divergence about Downtrend2 and Downtrend1,so we can entry and go long,stop loss position will be 100.27 and the target around 149. 149 can consider the first profit position, and if the breakout of the central is strong, then consider adding to the position after entering the pivot and pulling back without dropping below the central position. This depends on whether the rally enters the central or not. We make position adjustments based on the actual trend.
NYSE:MMMLong
by CryptoParadiseVIP
3M is Near Bottom Valuation3M stock is considered very cheap as it is traded at 3.5x PB ratio. Even though the company has an decreasing future net income, it still has pretty strong revenue. 3M price is moving downward faster than it's strong fundamental. So it left room for potential upward gain, as it is now considered cheap in term of financial valuation. What is needed by the company is just a reduction of the cost and operate more efficiently. It that could be done I think 3M price could bounce up strongly. We are using Stock Value Rainbow to evaluate stock valuation based on four valuation metrices: book value, earning, dividend and cash flow. The rainbow color depict the multiples values of all these four factors sum up together. The rainbow above the gray lines represent 1x, 2x, 3x, .., 10x of stock value. While rainbow below the gray line represent 0.8x, 0.6x, 0.4x, 0.2x stock value. The higher the value the more expensive the stock, the lower the value the cheaper it is according to these fundamental or financial valuation metrices.
NYSE:MMM
by danny_peanuts