The shares of 3M Co., an American diversified innovative manufacturing company, are moving in a corrective trend around 116.00.
On the daily chart, the price rises within the global channel with dynamic boundaries 136.00–100.00. Given that the base correction level of 38.2% Fibonacci at 124.00 was reached, the growth may continue.
On a four-hour timeframe, it can be seen that after breaking through the 124.00 mark, the nearest resistance for quotes is the 50.0% Fibonacci intermediate correction level at 130.00, consolidation above which will allow the asset to reach the main target near the channel resistance line at 142.00.
Technical indicators reversed and gave a buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram entered the buy zone.