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Watch for 3M Co to Potentially Rebound After Falling 1.10% Yesterday

By Amy Schwartz

3M Co (NYSE:MMM) traded in a range yesterday that spanned from a low of $166.12 to a high of $169.86. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $167.88 on volume of 1.3 million 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 $159.32 to $219.75 and is now at $166.76, 5% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.7% while the 200-day MA has slid 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of 3M Co on April 26th, 2019 by issuing a Downtrend alert when the shares were trading at $190.80. Since that call, shares of 3M Co have fallen 11.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders 3m co

Ticker(s): MMM