3M readies to tackle current resistance - Analysis - 03-06-2020

3M's stock rose 1.32% in the last session while trading alongside the upward short-term trend line, with support from the 50-day SMA, targeting 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). 

Therefore we expect more gains for the stock, targeting the next resistance at 169.94, representing the ratio 76.4% of the same retracement levels. 

Expected trend for today: Bullish