Solid News

3M Co., Technical Analysis

8/3/2022 11:46 AM

The shares of 3M Co., an American diversified innovative manufacturing company, are trading in an uptrend, around 141.00.

On the daily chart of the asset, the price is moving in a stable downward channel with dynamic boundaries of 120.00–150.00, and within the ascending wave, it almost reached the resistance line levels around 150.00.

On the four-hour chart, the quotes returned to the recent local corridor with the boundaries of 130.00–152.00, within which they may remain soon. The key resistance for the upward momentum is the global high at 153.00, which coincides with the resistance line of the downwards channel.

The likely continuation of the growth is also confirmed by the readings of technical indicators that have long reversed and hold a stable buy signal: fast EMAs on the Alligator indicator are significantly above the signal line, and the AO oscillator histogram forms bars with an upward trend in the buying zone.

Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742

Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2023