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.
This content is for informational purposes only and is not intended to be investing advice.
