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

2020-06-03 11:38:04 GMT (Economies.com)
 

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 

 
 
 
  Symbol Last Change Chg.%
1.1246
-0.0031
0.2718%
1.2486
0.0178
1.4462%
Tadawul
7388.49
76.25
1.04%
18.047
0.268
1.507%
40.285
1.510
3.894%
42.80
-0.34
0.79%
1774.730
3.115
0.176%
 
 
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