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Bullish Moving Average Cross by 3M (MMM)

By David Diaz

Today, shares of 3M (NYSE:MMM) have crossed bullishly above their 10-day moving average of $144.85 on a volume of 1.6 million 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 $112.36 and a high of $146.43 and are now at $145.47, 29% above that low price. The 200-day and 50-day moving averages have moved 0.29% higher and 0.13% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of 3M on February 11th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $130.57. Since that recommendation, shares of 3M have risen 10.8%. 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