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Bullish Moving Average Cross by 3M (MMM)

By Nick Russo

Today, shares of 3M (NYSE:MMM) have advanced above their 10-day MA of $166.80 on a volume of 217K shares. This may provide short-term investors a chance 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 $167.99 and are now at $167.65, 25% 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 0.8%.

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 14.1%. 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