3M Company neutral

Three months of the 3M flat

17 may 2022 58
Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
1st in the segment "Currencies"
2nd in the segments "Indices" and "Metals"
3rd in the segment "US stocks"
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3M shares have been in a flat for 3 months now with a lower border of 142 and an upper border of 154. Until there is a breakout with price fixing outside the indicated range, a strategy, based on a rebound from one of the borders and movement to another one, can be used.

 

Last week, the price rolled back from the flat’s upper border and moved down, but it found support at the SMA of the Bollinger Band. Another rise to the level of 154 might follow, but the upper Bollinger Band also passes there, which increases the probability of another bounce down.

Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
1st in the segment "Currencies"
2nd in the segments "Indices" and "Metals"
3rd in the segment "US stocks"
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