3M Bearish Moving Average Crossover Alert (MMM)
Today, shares of 3M (NYSE:MMM) have fallen below their 10-day MA of $179.41 on a volume of 214K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, 3M has traded in a range of $134.00 to $182.27 and is now at $178.81, 33% above that low. Over the last five market days, 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 23.2%. We continue to monitor MMM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses 3M