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3M Bearish Moving Average Crossover Alert (MMM)

By David Diaz

Today, shares of 3M (NYSE:MMM) have crossed bearishly below their 10-day moving average of $167.85 on a volume of 323K 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 $170.77 and are now at $167.24, 25% above that low price. The 200-day and 50-day moving averages have moved 0.11% higher and 0.40% higher over the past week, respectively.

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 15.3%. 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