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Watch for 3M Co to Potentially Pullback After Gaining 3.68% Yesterday

By Shiri Gupta

3M Co (NYSE:MMM) traded in a range yesterday that spanned from a low of $154.11 to a high of $158.01. Yesterday, the shares gained 3.7%, which took the trading range above the 3-day high of $153.09 on volume of 1.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in 3M Co. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of 3M Co in search of a potential trend change.

In the past 52 weeks, shares of 3M Co have traded between a low of $150.58 and a high of $219.75 and are now at $157.92, which is 5% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1.2%.

Keywords: rebounders 3m co

Ticker(s): MMM