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Watch for Continued Losses in Shares of 3M Co (MMM)

By Nick Russo

Shares of 3M Co (NYSE:MMM) traded at a new 52-week low today of $166.37. This new low was reached on below average trading volume as 502,000 shares traded hands, while the average 30-day volume is approximately 3.4 million shares.

In the past 52 weeks, 3M Co share prices have been bracketed by a current low of $166.37 and a high of $219.75 and are now at $166.70. The 200-day and 50-day moving averages have moved 0.43% lower and 1.53% lower over the past week, respectively.

Potential upside of 35.0% exists for 3M Co, based on a current level of $166.70 and analysts' average consensus price target of $225.00. The stock should find initial resistance at its 50-day moving average (MA) of $201.03 and further resistance at its 200-day MA of $201.39.

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products. Its Safety and Graphics segment provides personal protection and transportation safety products, commercial graphics systems, commercial cleaning and protection products, floor matting, roofing granules, fall protection products, self-contained breathing apparatus systems, and gas and flame detection instruments.

SmarTrend recommended that its subscribers protect gains by selling shares of 3M Co on April 26th, 2019 by issuing a Downtrend alert when the shares were trading at $190.81. Since that call, shares of 3M Co have fallen 11.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows 3m co

Ticker(s): MMM