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Look for Shares of 3M Co to Potentially Rebound after Yesterday's 2.48% Sell Off

By James Quinn

3M Co (NYSE:MMM) traded in a range yesterday that spanned from a low of $138.70 to a high of $140.73. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $141.45 on volume of 1.7 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 Cohas traded in a range of $0.00 to $187.72 and are now at $0.00. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 0.3%.

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.

Keywords: rebounders 3m co

Ticker(s): MMM