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3M Co Set to Possibly Rebound After Yesterday's Selloff of 1.28%

By Amy Schwartz

3M Co (NYSE:MMM) traded in a range yesterday that spanned from a low of $200.51 to a high of $202.53. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $202.00 on volume of 881,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, 3M Co has traded in a range of $163.85 to $214.57 and is now at $200.66, 22% 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%.

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