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

By Amy Schwartz

Shares of 3M (NYSE:MMM) traded at a new 52-week high today of $132.55. So far today approximately 148,000 shares have been exchanged, as compared to an average 30-day volume of 2.3 million shares.

3M (NYSE:MMM) defies analysts with a current price ($130.05) 2.1% above its average consensus price target of $127.38. The stock should find initial support at its 50-day moving average (MA) of $123.28 and further support at its 200-day MA of $113.31.

In the past 52 weeks, 3M share prices have been bracketed by a low of $88.40 and a high of $132.55 and are now at $130.05, 47% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.8%.

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.

SmarTrend recommended that subscribers consider buying shares of 3M on September 10th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $117.47. Since that recommendation, shares of 3M have risen 11.0%. 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