The time of problems has passed, now only up to conquer the heigIn fact, everything is going perfectly for us and now is the perfect moment to buy a company for many years to come
MMM trade ideas
3M: Higher High ExpectedAt the start of the year, MMM continued to rise higher before the rally temporarily transitioned into a consolidation phase. February brought slight downward pressure, but after a brief spike back to $141 last week, buying interest returned noticeably. This triggered a strong upswing, with the stock gaining nearly 10% in just a few trading days. As a result, we have identified an internal five-wave structure within the turquoise wave 5 and now primarily assume that the magenta wave is already unfolding. This wave should extend further upward, marking the completion of the broader magenta wave (1). Afterward, we anticipate a significant wave (2) correction, which could also begin earlier. In this 35% likely alternative scenario, the stock would experience a premature sell-off below the $131.40 support, with wave alt.(2) eventually reaching our magenta Target Zone between $106.04 and $86.20.
MMM Technical Outlook: Potential Buy SetupMMM is in a strong bullish uptrend after finding support around the 76 zone in March 2024. The stock has posted positive earnings for four consecutive quarters, meeting expectations. Trading above the daily trendline, it's likely to fill the gap formed after January earnings, setting up a new higher low.
Entry Suggestions:
Buy 1: 142.5
Buy 2: 135.5
Stop Loss (on closing basis): 124
For exits, consider a tiered approach. In the near term, aim to book profits around 154.4 and 172. Looking ahead, there's potential for further gains with targets at 182 and 215, although these may take longer to materialize. A weekly bearish divergence is forming and could influence price action around the upcoming earnings on April 29. Until then, the price seems well-positioned to hit the initial targets, making this an attractive trading opportunity.
Happy trading!
Larger corrective structure over, impulse move upNYSE:MMM has been on a corrective phase since 29 Jan 2018 peaks and it has been on a extended double three corrective wave based on the weekly chart shown. Furthermore, the stock has also broken out of the corrective descending channel, which marks the end of the corrective move. Currently, the stock is preparing for its 5th wave impulse move and should see strong action up towards 168.00. Golden cross of the EMAs can be seen also.
Price action
Daily price action is showing bullish momentum as well after breaking above the pennant and prices are trending above all the ichimoku.
Momentum
Long-term MACD signal line is likely to perform a crossover.
The stochastic Oscillator (62, 12, 12) rose, showing strong bullish pressure
The rate of change managed to rise sharply above the zero line.
Volume and Trend strength are in a healthy stage. Both are displayed by volume and Directional movement index.
Is it time for a leap on MMM?🔉Sound on!🔉
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Thank you as always for watching my videos. I hope that you learned something very educational! Please feel free to like, share, and comment on this post. Remember only risk what you are willing to lose. Trading is very risky but it can change your life!
3M (MMM): Patience Before Next StepsWall Street analysts estimate that 3M will report quarterly earnings of $1.66 per share next week, reflecting a significant 31.4% year-over-year decline. Revenues are projected at $5.79 billion, down 27.7% compared to the same quarter last year.
As we mentioned previously, we have not yet set a clear limit for 3M and continue to monitor its chart closely. The current structure suggests that the alternative scenario, where wave 1 is positioned higher, appears increasingly likely. However, a significant surge beyond this point does not seem probable at this time.
We’re keeping a close watch to determine where this wave 1 establishes its top before making any further moves. Patience remains key as we refine our conclusions on NYSE:MMM ’s next steps.
Follow These 3 Steps To Determine Price ActionThe gap between the rich and poor has become
more evident
yesterday I had a conversation with
One of my brothers about a friend
who was looking for a job but lucked the courage
and faith to find one..
Even in his turmoil, I encouraged him
with knowledge bout capitalism and entrepreneurship
Because he was so discouraged I had nothing else
to inspire him with
excerpt the knowledge on capitalism
and entrepreneurship
this was way before I mastered how to trade
today he found a good blue-collar
education and will be getting ready
to enter the labour market
No matter what level you are in life
whether you are at a white collar
job or blue-collar job
Capitalism will help you
This is why I developed the rocket booster
strategy
Its a trend analysis system
to help you understand the price action
of a stock price
In this case we are looking at NYSE:MMM
this company is about to have a dividend
reporting this very week
This type of news is a catalyst to this
current price action.
So the question is what is the price action?
So you can determine the price action
in the following 3 steps...
(1)The price has to be above the 50 EMA
(2)The price has to be above the 200 EMA
(3)The price has to gap up
There is a market cycle going on
and its hard to see it especially
when you are beginning
You see once you understand
market cycles every day you
will be able to see these prices.
But that's professional trading.
To learn more Rocket Boost this content
Disclaimer: Trading is risky you will
lose money whether you like it or not.
Please learn risk management and profit-taking
strategies.
3M (MMM): Building a Bullish Case Despite HeadwindsWith 3M's earnings yesterday, it’s the perfect moment to analyze the stock and assess the upcoming opportunities. The company is expected to have benefited from its restructuring actions, such as headcount reduction, likely lowering costs and improving margins this quarter. Its disciplined spending and restructuring savings could also boost profitability.
Despite these positive factors, challenges in 3M’s packaging and expression, along with home and auto care divisions, may drag down its performance. Lower consumer retail spending on durable goods is expected to impact its Consumer segment's results.
From a technical standpoint, 3M’s surge from the support zone recently was strong enough to shift the weekly trend from bearish to bullish. Such a structural change on the weekly chart is significant, as it's not common to see such a clean trend reversal. However, as often happens with sharp upward movements, we are now seeing a bearish divergence on the RSI. This divergence doesn’t mean a pullback is imminent but suggests that one could happen eventually.
Looking at the daily chart, there may be potential for 3M to move higher if wave 1 isn’t complete. Even if earnings were positive, we should still witness a pullback. We are looking to build a position by layering bids at key levels. Our first target entry is the gap high, followed by the gap low, which aligns with the 50% Fibonacci level. If the price continues to drop, we’ll continue adding bids down to the 78.6% Fibonacci retracement level. Our stop loss will be set below wave (2) to safeguard the trade. A break below this level would invalidate the bullish outlook and could result in a drop to $56, though this scenario seems less probable for the near future.
MMM 3M Company Options Ahead of EarningsIf you haven`t bought the dip on MMM:
Now analyzing the options chain and the chart patterns of MMM 3M Company prior to the earnings report this week,
I would consider purchasing the 135usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $8.05.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
"gap you are seeing on the screen is a good sign" 3 Step SystemYesterday i was walking near
the market place, and decided
to get some sweet milk
and some bananas Because I was hungry
And bananas help me with
hunger a lot!
The stock market is always hungry and if you
find the right system every week you
will have an opportunity
to buy or sell depending on
which strategy you
prefer right now I prefer to go long on NYSE:MMM
Because it follows these 3 steps:
#1-The price is above the 50-day moving average
#2-The price is above the 200 Day Moving Average
#3-The price has gapped up in an uptrend
That huge gap you are seeing on the screen
is a good sign of support
for the price of this stock.
To learn more Rocket Boost this content
--
Remember on the 19th of October am going to show you
"The Top13 Iron Watchlist"
Save that date.
--
Disclaimer: Trading is risky please learn risk management and profit-taking strategies.
3M Company (MMM) trade ideaMMM is forming a rising wedge pattern nearing a crucial resistance level. A breakout from this level, combined with increased volume, could signal further upward momentum. Keeping an eye on how the stock interacts with its moving averages will be key in validating any possible breakout.
MMM - due for a healthy pullback?I like the recent run up but did it go too far, too quickly? I think so. From a simple perspective, this stock is approximately 27% above the 200-day MA (looking at a year chart). This is by far the farthest it's been away from the 200-day (up or down) this year. On a two year chart, the farthest it got away from the 200-day was around the 27% range. At that time, it was the below the 200-day and moved up nicely.
Never a fan when stable companies get too far away from the 200-day on a yearly chart. I like this as a short term play. I actually went with a straddle because the data I found below.
ASK IV is 18.24 with historical IV being at 39.13
I am not an attorney, accountant or financial advisor, nor am I holding myself out to be, and the information contained in this post is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.
3M Company Is Back To Bullish Mode3M Company with ticker MMM was trading in a larger A-B-C correction within a higher degree wave IV for the last 5 years, but we have been warning about strong support with equal wavelength of waves A=C already back in 2023.
As you can see now in 2024, we can see a strong rebound after a completed projected higher degree A-B-C correction within wave IV, so wave V can be now in play that can send the price back to all-time highs, especially if breaks channel resistance line and 175 level.
My Tape reading for 3M Monthly Candles203.4 would be our final tgt, to touch north it has to travel crossing few levels in coming month we will keep track of
Once it crosses above 135.51 and get more bullish, we will add more. Then it has to cross 152.77 & 162.90 once these tgt are in play
we are looking at 191.43 and final 203.4
Risk Disclaimer
The trade ideas beyond this page are for Education/informational purposes only and do not constitute investment advice or a solicitation to trade. Shunya.Trade does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
This information is provided by Shunya.Trade, and is intended for general circulation only.
MMM potential Buy setupReasons for bullish bias:
- Price gave a strong weekly resistance breakout
- Price respecting daily trendline
- Playing DOW
- Positive Earnings
Here are the recommended trading levels:
Entry Level(CMP): 104.55
Stop Loss Level: 94.63
Take Profit Level 1: 114.47
Take Profit Level 2: 124.39
Take Profit Level 3: Open
MMM, patience will payMMM (3M Company) saw a significant surge of +22.99% on Friday's close, which might suggest extraordinary earnings, but that's not the case. The earnings report was in line with expectations and didn't reveal anything particularly noteworthy. The substantial rise in the stock price can be attributed to a short squeeze, where trapped short traders were forced to cover their positions, leading to continuous buying pressure.
Analysis:
Earnings Report: The earnings did not indicate exceptional performance, which means the stock's movement is driven by technical factors rather than fundamentals.
Short Squeeze: Many traders who were short on common shares or involved in short calls/long puts found themselves trapped, forcing them to cover their positions. This created a buying frenzy, pushing the stock price higher.
Liquidity Level Break: The price broke past a key liquidity level on the weekly chart at $115.38. Once this level was tested, shorts likely attempted to push the price down, but the reversal never happened, leading to continuous short-covering.
Key Levels to Watch:
$125/$135 Levels: Critical resistance levels. If the price shows bearish behavior under $125, it could be a signal to short for a retracement back to $115. Conversely, if the price breaks above the high of the earnings PEG candle, the next test would be around $134.
Weekly and Monthly Fair Value Gaps: The high of the weekly fair value gap (FVG) is $128.50, which aligns with Friday's high. Rejections around this level could prompt a short trade with a stop at the pivot high. Additionally, there are FVGs around $130 and $135-$142, which should be considered in trading decisions.
Plan:
Bearish Under $125: Watch for bearish price action under $125 to set up a short swing trade targeting $115.
Break Above $128.50: If price action confirms a break above $128.50, the next target would be a test of $134. Any rejections around $134-$135 could present shorting opportunities.
MMM's price action on Friday is largely a result of a short squeeze rather than fundamental strength from earnings. Traders should pay close attention to how the price reacts at key levels ($125, $128.50, $134-$135) for potential trading opportunities, either for a continuation of the rally or a retracement.
By monitoring these levels and waiting for price action confirmation, traders can better manage their entries and exits in the stock.
3M Company (MMM)3M Company, a global innovation powerhouse, is showing promising bullish momentum. After a recent consolidation period, the stock has broken through key resistance levels, signaling a potential upward trend. This is evidenced by strong volume spikes and positive technical indicators.
**Technical Analysis Highlights:**
- **Bullish Indicators:** The stock price has recently surged past the $104 resistance, with strong buying volume.
- **Entry Points:** Strategic long entries at $91.06 have proven profitable, and current momentum suggests further upside.
- **MACD & RSI:** Indicators are aligning bullishly, supporting the potential for continued gains.
**Fundamental Analysis Insights:**
- **Revenue & Earnings Growth:** 3M has shown consistent revenue and earnings growth over the past quarters, demonstrating strong operational efficiency and market demand for its diverse product range.
- **Dividend Yield:** 3M offers a solid dividend yield, making it attractive for income-focused investors. The company has a long history of paying and increasing dividends.
- **Product Innovation:** 3M's commitment to innovation is reflected in its substantial R&D investments, which continue to drive new product developments and market expansion.
- **Market Position:** As a leader in multiple industrial sectors, 3M's diversified portfolio mitigates risks and leverages opportunities across various markets, from healthcare to consumer goods.
- **Financial Health:** The company maintains a strong balance sheet with manageable debt levels and robust cash flow, providing financial stability and the ability to invest in growth initiatives.
Investors should watch for further confirmation of this trend. Positive market sentiment, coupled with strong fundamental and technical support, suggests 3M could continue to perform well in the near term.
My regards….. Dr SAUD
