Dec. 10 at 2:41 AM
Actionable Trade Alert for
$MMM:
Market Context:
$MMM is currently trading at
$165.1, positioned in a neutral RSI zone (48.68), indicating potential for movement. The price is slightly below the 30-day moving average (MA30) of
$167.37 but above the 50-day moving average (MA50) of
$163.54, suggesting a mixed short-term outlook. The 60-day high of
$174.69 and low of
$148.46 indicate a healthy trading range.
Directional Bias: The current price action suggests a potential bullish reversal, especially if it breaks above the MA30. The RSI is not in overbought territory, allowing room for upward movement.
Trade Plan:
- Suggested Entry:
$166.50 (above MA30)
- Stop Loss:
$162.00 (below MA50)
- Take Profit Targets:
1.
$170.00 (2.25% ROI)
2.
$173.00 (4.25% ROI)
3.
$193.00 (17% ROI)
Monitor for upward momentum past MA30 for confirmation.
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