3M price tries to gather positive momentum - Analysis - 17-04-2024

MMM’s stock price fell in the intraday levels with negative signals from the RSI after reaching oversold levels, while gathering positive momentum to rise anew, amid the dominance of the upward correctional short-term trend, with positive support from the 50-day SMA.

Therefore we expect the stock to return higher, targeting the pivotal resistance of $94.60, provided the support of $87.87 holds on.

Expected trading range: between the support of $87.87 and the resistance of $94.60. 

Trend forecast: Likely Bullish