3M’s stock price rose in latest intraday trading, as the price tries to recoup some recent losses, while also trying to vent off oversold saturation in the Stochastic, with positive signals streaming out of it, as the price is also hurt by piercing the main upward trend line previously in the short term, with negative pressure due to trading below the 50-day SMA.
Therefore we expect the stock to return lower, targeting the pivotal support of $124.50, provided the resistance of $141.45 holds on.
Today’s price forecast: Bearish
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