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3M Bearish Moving Average Crossover Alert (MMM)

By Amy Schwartz

Today, shares of 3M (NYSE:MMM) have fallen below their 10-day MA of $168.91 on a volume of 345K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, 3M share prices have been bracketed by a low of $134.00 and a high of $171.27 and are now at $168.70, 26% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of 3M on January 27th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $146.01. Since that recommendation, shares of 3M have risen 16.1%. We continue to monitor MMM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses 3M

Ticker(s): MMM