3M may rise to 110.50 - 112.20

Our pivot point stands at 101.4.

Our preference

The upside prevails as long as 101.4 is support.

Alternative scenario

The downside breakout of 101.4 would call for 98.6 and 96.8.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 101.727 and 100.521). Finally, 3M has crossed above its upper daily Bollinger band (103.84).

Supports and resistances

113.9 **

112.2 *

110.5 **

108.8

104.04 (USD-last)

102.5

101.4 **

98.6 *

96.8 **

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