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Recent 52-Week High Exceeded in Shares of 3M (MMM)

By Shiri Gupta

Shares of 3M (NYSE:MMM) traded today at $175.81, breaking its 52-week high. This new high was reached on below average trading volume as 225,000 shares traded hands, while the average 30-day volume is approximately 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 $175.81 and is now at $175.73, 31% 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 8.4% above its average consensus analyst price target of $160.91. 3M shares have support at the 50-day moving average (MA) of $164.96 and additional support at the 200-day MA of $153.19.

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 19.9%. 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