3M Co., H4

On the four–hour chart, the formation of the "Symmetrical Triangle" price pattern is observed, the price exit from which can be made both down and up, as well as the "Hammer", "Morning Star" and "Dragonfly Doji" candle analysis models in the area of 96.91-101.51, signaling pressure from buyers. If the upper limit of the "Symmetrical Triangle" pattern is successfully broken out and the price is consolidated above the resistance level of 106.12, we can expect an increase in positive dynamics to the area of 112.96–120.60, but if the price is consolidated below the support level of 96.91, the movement will continue to the area of 90.33–85.32.

3M Co., D1

On the D1 chart, the large price pattern "Symmetrical Triangle" can be identified more clearly: its formation is accompanied by the construction of "bullish" candle patterns "Hammer", "Inverted Hammer" and "Morning Star Doji" at levels 96.91–101.51, which signal the advantage of buyers. Most likely, 3M Co. stock quotes will continue to move up, and consolidation above the level of 106.12 may contribute to an increase in the value of securities to the level of 120.60.

Support and resistance

Support levels: 96.91, 90.33, 85.32.

Resistance levels: 106.12, 112.96, 120.60.

Trading tips

Long positions can be opened above the level of 106.12 with targets of 112.96, 120.60. Stop-loss – 101.51. Implementation time: 7 days and more.

Short positions can be opened below the 96.91 mark with targets of 90.33, 85.32. Stop-loss – 101.51.