MMM trade ideas
My 3 MMMilk Shake brings all the boys to yard.. Damn rightNYSE:MMM
If ask you, “What do you Think the chart of 3M looks like?”, the maker of the highly coveted and an extremely high demand masks that keeps the population of earth alive…
Would not your reply be, “Uhh, probably UP, if I had to guess”?
This is so big, and i will sound like A conspiracy theorist, if I told you it goes all the way to the White House... Even wonder what the heck “P act” was today?
3M - Coronavirus Scare Bolsters 3M Production of Masks Consider 3M in your list of bargains to buy at the moment. I've read several articles that have said 3M has sold out of their masks due to the coronavirus scare and is currently paying workers overtime to meet the demand. They're hoping to have a mask output (N95) of at least 35million/month to the US alone and have ramped up their production in Asia and Europe as well.
On a technical stand point, this looks to be a good place to enter. The the current price action appears to be bouncing off support and the .5 Fib retracement level. The OBV remains high and there is strong bullish divergence that can be seen on the weekly MACD. Given the overall concern of the current status of the world markets, this looks to be a good short-term scalp where I am aiming for resistance around $175. I will re-evaluate that state of the markets once we hit this level to determine whether to let it ride or close the trade.
3M3M has good potential for growth. Recently, the trend was definitely directed downwards. However, the company should receive large orders for protective equipment due to the coronovirus pandemic.
Targets: 165, 180, 200, 220.
The main targets: 180 and 200.
As prices rise, the 180 level is likely to act as a barrier. And there will be a very high probability of forming an inverted head with shoulders. It will also be possible to enter the position after testing the level 180, where the uptrend will be more clearly traced.
MMM - Opportunity for Short Hey guys! Here's my view on MMM:
Summary
Price bounced off a strong support, captured by the recent spike and I am expecting a further push to 168.79 before a reversal.
How I would play this trade:
Entry: 168.79
Stop Loss: 190.26
Take Profit: 97.21
Reason for my view:
There was a strong bounce off the 61.8% fibonacci retracement level, in line with previous breakout levels, as seen by the recent spike. With the $2 trillon rescue package recently injected into the economy, it could provide a temporary boost in market risk sentiment. This could see prices rally higher to test our resistance level at 168.79.
Overall bias remains bearish as price is holding nicely below its descending resistance line and 35 EMA. Fundamentally, the Covid-19 outbreak worldwide is not showing signs of peaking out, which could further impede the global recovery.
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3M to rise during coronavirus crisis3M is a medical company that is making some of the items in the highest demand on the market right now. Those are the N95 facemasks, which filter out 95% of airborne droplets for safer travel and work. These are especially important for healthcare workers as they are heavily exposed to this virus. They are also teaming with Ford (F) to make ventilators and respirators which are also in extremely high demand. They may get massive orders from governments around the world which will drastically increase their stock price.
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3M Company is Dropping MMM is unfortunately dropping to weekly levels.
MMM is an American multinational conglomerate corporation operating in the fields of industry, worker safety, health care, and consumer goods. (Wikipedia)
however the price confirmed bearish terms, and we will carry on this trend to low levels
3M fighting coronavirusRecently, coronavirus has tormented Italy and now the whole of Italy is in quarantine. One way to help fight coronavirus is with the use of respirators, which 3M makes. Italy is in such low supply of respirators that they are not giving them to anyone over 65 years of age. 3M is increasing its production to help the US prepare for this. The government and hospitals will buy them to make sure they are prepared.
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Investing in the Time of COVID-19 / 3M COMPANYIs It Time to Buy 3M Stock? (NYSE:MMM)
3M ramps up N95 respirator production as demand surges from global coronavirus outbreak.
Demand for respirators is extremely high .
To fill the surge in demand for the devices, particularly the N95 respirator, 3M is ramping up production.
In Aberdeen, South Dakota, more than 650 employees at one of 3M’s largest manufacturing facilities are working overtime to increase face mask production.
3M Company:
While 3M manufactures millions of respirators per month at production facilities in the United States and China, as well as in Latin America,
Europe and Asia, we expect demand for respirators and other supplies to outpace supply for the foreseeable future.
"3M is supporting public health and government response to the outbreak by ramping up production at our global manufacturing facilities,
including hiring workers, adding shifts and activating more production lines.
"Still, global demand for certain personal protective equipment, including respirators, is currently exceeding supply.
We are working with customers, distributors,
and government and medical officials to help get supplies where they are most needed."
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