3M may rise to 106.70 - 108.50

Our pivot point is at 98.4.

Our preference

As long as 98.4 is support look for 106.7.

Alternative scenario

Below 98.4, expect 95.6 and 93.9.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading under its 20 day moving average (101.354) but above its 50 day moving average (99.605).

Supports and resistances

110.2 **

108.5 *

106.7 **

105.1

101.32 (USD-last)

99.5

98.4 **

95.6 *

93.9 **

Number of asterisks represents the strength of support and resistance levels.