Nov. 13 at 1:04 AM
$MMM is currently trading at
$169.09, showing a neutral RSI of 53.26, indicating no immediate overbought or oversold conditions. The price is above both the 30-day MA of 160.59 and the 50-day MA of 158.37, suggesting a bullish short-term trend. The recent high of
$172.85 is within reach, while the low of
$148.46 provides a solid support level.
Directional bias leans bullish due to the price being above key moving averages and the RSI indicating potential for upward momentum.
Suggested entry point is at
$170.50, slightly above the last close to confirm upward movement. Set a stop loss at
$165.00 to manage risk. Target 1 is
$172.00, near the 60D high, and Target 2 is
$175.00, allowing for further upside potential.
Monitor the ATR of 4.08 for volatility and adjust stop loss accordingly.
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