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Watch for 3M Co to Potentially Pullback After Gaining 3.63% Yesterday

By James Quinn

3M Co (NYSE:MMM) traded in a range yesterday that spanned from a low of $137.22 to a high of $140.13. Yesterday, the shares gained 3.6%, which took the trading range above the 3-day high of $138.21 on volume of 1.7 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.

3M Co share prices have moved between a 52-week high of $219.75 and a 52-week low of $114.04 and are now trading 22% above that low price at $138.70 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.8% while the 200-day MA has slid 0.5%.

Keywords: rebounders 3m co

Ticker(s): MMM