3M may rise to 107.70 - 109.40

Our pivot point stands at 98.5.

Our preference

As long as 98.5 is support look for 107.7.

Alternative scenario

The downside breakout of 98.5 would call for 95.8 and 94.1.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is below its 20 day moving average (101.498) but above its 50 day moving average (99.7866).

Supports and resistances

111.1 **

109.4 *

107.7 **

106

101.1 (USD-last)

99.5

98.5 **

95.8 *

94.1 **

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