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3M Co Set to Possibly Pullback After Yesterday's Rally of 1.52%

By James Quinn

3M Co (NYSE:MMM) traded in a range yesterday that spanned from a low of $218.74 to a high of $221.69. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $219.27 on volume of 784,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of 3M Co on March 22nd, 2018 by issuing a Downtrend alert when the shares were trading at $227.46. Since that call, shares of 3M Co have fallen 4.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, 3M Co has traded in a range of $163.85 to $259.77 and is now at $221.27, 35% 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%.

Keywords: rebounders 3m co

Ticker(s): MMM