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Bearish Moving Average Cross by 3M Co (MMM)

By David Diaz

3M Co (NYSE:MMM) crossed under its 10-day moving average of $201.93 on a volume of 603K 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, shares of 3M Co have traded between a low of $163.85 and a high of $259.77 and are now at $200.47, which is 22% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of 3M Co on March 22nd, 2018 by issuing a Downtrend alert when the shares were trading at $227.46. Since that call, shares of 3M Co have fallen 11.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses 3m co

Ticker(s): MMM