Solid News

The shares of 3M Co., an American diversified innovative manufacturing company, are trading in a corrective trend around 107.00.

The corporation remains at the center of numerous litigations, most notably over non-compliance with Combat Arms earplugs, resulting in a large proportion of users experiencing hearing problems. Late last week, the US National Institutes of Health announced that 85.0% of those filing a lawsuit against Combat Arms have a normal hearing condition, and almost 90.0% of the plaintiffs have no hearing impairment, based on which the company's management believes that the product fully complies with all requirements, and insists on making a "reasonable decision" based on scientific evidence.

The financial report is due on April 25: revenue could be 7.57B dollars, down from the previous 8.1B dollars, and earnings per share are expected to be 1.64 dollars, down from 2.28 dollars previously. The next dividend payment is scheduled for March 12, when shareholders will receive 0.50 dollars per share, which is equivalent to a yield of 5.23% per annum.

On the daily chart, the trading instrument is forming a global downward channel, coming close to the low of the year at 107.00.

Technical indicators strengthen the sell signal: the AO histogram is close to the transition level, forming rising bars, and the fast EMAs of the Alligator indicator are below the signal line.

Resistance levels: 111.00, 119.00. | Support levels: 105.00, 100.00.