3M may rise to 150.60 - 158.40

Our pivot point stands at 115.9.

Our preference

As long as 115.9 is support look for 150.6.

Alternative scenario

Below 115.9, expect 103 and 95.3.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 121.2695 and 109.6162).

Supports and resistances

166.2 **

158.4 *

150.6 **

142.9

127.05 (USD-last)

121

115.9 **

103 *

95.3 **

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