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After Yesterday's Rally of 1.30% Shares Could Potentially Pullback

By Shiri Gupta

3M Co (NYSE:MMM) traded in a range yesterday that spanned from a low of $242.50 to a high of $245.88. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $242.57 on volume of 470,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, 3M Co has traded in a range of $163.85 to $245.88 and is now at $245.74, 50% above that low. The 200-day and 50-day moving averages have moved 0.15% higher and 0.53% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of 3M Co on September 15th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $212.39. Since that recommendation, shares of 3M Co have risen 14.1%. We continue to monitor MMM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders 3m co

Ticker(s): MMM