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3M Co Set to Possibly Rebound After Yesterday's Selloff of 1.03%

By Amy Schwartz

3M Co (NYSE:MMM) traded in a range yesterday that spanned from a low of $234.81 to a high of $239.32. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $236.17 on volume of 863,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, 3M Co share prices have been bracketed by a low of $163.85 and a high of $259.77 and are now at $235.23, 44% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

SmarTrend is tracking the current trend status for 3M Co and will alert subscribers who have MMM in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders 3m co

Ticker(s): MMM