3M Bullish Moving Average Crossover Alert (MMM)
3M (NYSE:MMM) shares have crossed bullishly above their 10-day moving average of $169.49 on a volume of 562K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher 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 $172.80 and are now at $172.49, 29% above that low price. 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 15.7%. We continue to monitor MMM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses 3M