3M Hammer

01 March 2022 140
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In recent months, 3M shares are in the downtrend. Supply chain challenges had a negative impact on many industrial companies including 3M.

The price reached the level of 139.66, the spring minimum of 2020. At this level, the daily candlestick formed a hammer, a strong reversal signal. The RSI also reversed upwards from the oversold zone.

The nearest target of growth is the level of the unclosed gap at 154.

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