3M leans on upward trend line - Analysis - 29-07-2020

2020-07-29 13:03:24 GMT (Economies.com)
 

3M's stock skidded in the last session to lean on the upward short-term trend line, while also leaning on the 50-day SMA support as it gathers positive momentum to help it rise anew, amid positive signals from the RSI. 

 

Therefore we expect the stock to return higher, provided it steadies back above the resistance of 159.19, representing the ratio 61.8% of Fibonacci retracement levels for a descending wave in the medium term (from 187.00 to 114.01), targeting the next resistance at 169.94, representing the ratio 76.4% of the same retracement levels. 

 

Expected trends for today: Bullish 

 
 
 
  Symbol Last Change Chg.%
1.1785
0.0075
0.6435%
1.3052
0.0037
0.2828%
Tadawul
7499.97
10.08
0.13%
28.209
3.962
16.340%
41.550
1.115
2.757%
44.64
-0.45
1.00%
2032.160
62.805
3.189%
 
 
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