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3M: The Winning Streak Continues (MMM)

By James Quinn

Shares of 3M (NYSE:MMM) traded at a new 52-week high today of $193.00. Approximately 365,000 shares have changed hands today, as compared to an average 30-day volume of 1.9 million shares.

3M Co. conducts operations in electronics, telecommunications, industrial, consumer and office, health care, safety, and other markets. The Company's businesses share technologies, manufacturing operations, brands, marketing channels, and other resources. 3M serves customers in countries located around the world.

Over the past year, 3M has traded in a range of $134.00 to $193.00 and is now at $192.82, 44% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

3M (NYSE:MMM) is currently priced 2.0% above its average consensus analyst price target of $188.88. The stock should discover initial support at its 50-day moving average (MA) of $164.96 and subsequent support at its 200-day MA of $153.19.

SmarTrend recommended that subscribers consider buying shares of 3M on November 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $170.92. Since that recommendation, shares of 3M have risen 12.5%. We continue to monitor MMM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows 3M

Ticker(s): MMM