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Bullish Moving Average Cross by 3M (MMM)

By Shiri Gupta

3M (NYSE:MMM) shares have crossed bullishly above their 10-day moving average of $170.35 on a volume of 309K 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, shares of 3M have traded between a low of $134.00 and a high of $174.15 and are now at $170.83, which is 27% 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 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 16.1%. 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